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Australian regulator to sever its swaps benchmark relationship
Published Wed, May 11, 2016 · 09:50 PM
Sydney
THE Australian Financial Markets Association (AFMA) plans to sever its three-decade relationship with the bank bill swap rate (BBSW) amid ongoing rigging allegations and an increasingly complex benchmark setting process.
The announcement on Tuesday came as the country's financial watchdog pushes ahead with litigation against two of the country's major banks over alleged benchmark rigging.
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