The Conversation

BBSW – too dumb to understand?

Author: The Conversation USA

The reactions of ANZ and Westpac management to recent legal actions by ASIC alleging manipulation of the Bank Bill Swap Rate (BBSW) benchmark are instructive of the attitudes of the major banks.

ANZ wheeled out its Chief Risk Officer to argue that it believed the allegations ASIC were based on:

“A misunderstanding of how bank bill issuance and...

More...

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