LIBID (London Interbank Bid Rate)
The London Interbank Bid Rate (LIBID) is the average interest rate at which major London banks bid for Eurocurrency deposits from other banks in the interbank market. Unlike LIBOR which is an "ask" rate, LIBID is a "bid" rate.
In essence, while LIBOR is the rate at which banks are willing to lend money to other banks in the system, LIBID is the rate at which banks are willing to borrow money.
The difference between the two, therefore, is the bid-ask spread on these transactions. When the LIBID is high, it means that borrowers are looking to borrow funds with increasing demand.
LIBID is not accessible to everyone, in fact it is not standardized or publicly available and it is not used outside the interbank lending market.
The most common currency deposited as a Eurocurrency is the US dollar.
Finally, there is a weighted average between the LIBOR and LIBID rates and is called the London Interbank Mean Rate (LIMEAN). This additional rate is used to identify the spread between the two rates in question. LIMEAN is also used by institutions that borrow and lend money in the interbank market (rather than using LIBOR or LIBID) and is a reliable reference to the mid-market rate of the interbank market.