The “Index” is a benchmark, known as the one-year U.S. dollar (USD) LIBOR index. The Index is currently published in, or on the website of, The Wall Street Journal. The most recent Index value available as of the date 45 days before each Change Da te is called the “Current Prior to July 2007, the Fannie Mae LIBOR was published as a standard adjustable rate mortgage index. Fannie Mae discontinued the use and publication of its own rates at the end of June 2007 and suggested the replacement rate index use this current methodology, which is similar to the Wall Street Journal LIBOR (WSJ LIBOR). LIBOR. The London InterBank Offered Rate, or LIBOR, is the annualized, average interest rate at which a select group of large, reputable banks that participate in the London interbank money market can borrow unsecured funds from other banks.There are many different LIBOR rates (maturities range from overnight to 12 months) for five currencies: