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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

Published Wed, Mar 9, 2016 · 09:50 PM
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Sydney

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).

The Australian Securities & Investments Commission (ASIC) said last Friday that it was taking legal action against Australia & New Zealand Banking Group Ltd (ANZ) over alleged conduct rela…

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