A future change in bank regulation or evolving market trends may result in banks adjusting their debt maturity structure. AXI was designed to automatically adapt to these changes.  When bank funding turns out to be short term, AXI gives greater weight to short-term spreads. When bank funding turns out to be longer term, AXI weighs to the long term. Since there are almost no transactions with which to fix LIBOR, a representative credit spread would have to stay away from LIBOR and instead focus on the actual funding banks are getting.