During the global financial crisis of 2007-9, the interbank lending market that Libor was meant to measure all but evaporated.

在 2007-9 年的全球金融危机期间，Libor 本应衡量的银行同业拆借市场几乎消失了。

Interbank lending market refers to the market for short - term financing by financial institutions other than the central bank.

同业拆借市场是指中央银行以外的金融机构进行短期融资的市场。