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But the national living wage is 20% higher, the London rate almost 40% higher.
Crucially, these figures take account of existing in-work support: without this, for instance, the London rate would soar to £11.65.
The Independent Schools Council's Census 2013 data show fees in the north average £3,054 a term, a third less than the London rate.
The profile shows that when low income is measured before housing costs are taken into account, the London rate in the three years to 2013-14 was only 15% and "about average" in comparison with the rest of England.
Announcing the new London rate at the British Library on Monday, the mayor of London, Sadiq Khan, said more than 1,000 businesses are now accredited living wage employers, a third of all the businesses signed up in the UK.
Tomorrow, London mayor Boris Johnson, will announce the annual increase to the London rate at the start of the third Living Wage Week, a UK-wide series of events aimed at raising awareness of and celebrating the living wage.
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"As it is clear from the report... the New York Fed helped to identify problems related to Libor and press the relevant authorities in the UK to reform this London-based rate," said the Fed statement.
Barnier has raised the possibility that EU regulators could take over supervising benchmarks such as Libor, breaking with the current system where banks themselves supervise the London-based rate and its continental European equivalent Euribor.
"The New York Fed helped to identify problems related to LIBOR and press the relevant authorities in the UK to reform this London-based rate," the New York Fed said in a statement on its Web site.
LONDON — As interest rates on Greek debt spiral upward again, the question facing Europe is no longer whether Athens has the political will to cut spending and raise taxes to curb its gaping budget deficit, but whether Greece will run out of money before it gets the chance to do so.
"You can make some improvements to it, but there is no magic wand here," said one London-based interest rate strategist who asked not to be named.
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