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Aussie rates probe risks hobbling benchmark

Transactions used to determine BBSW has dwindled so much that reform is needed to maintain its robustness

Australia's securities regulator is taking legal action against ANZ over alleged conduct relating to the rate also known as BBSW that is used as a benchmark for trillions of dollars in financing.


AUSTRALIA'S securities regulator, suing one of the nation's biggest banks over alleged interest rate manipulation, risks further deterring the very institutions that are essential to setting the bank bill swap rate, the local equivalent of the London Interbank Offered Rate (Libor...

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