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Showing 21 - 30 of 50 results for "BBSW"

CBA embroiled in rate-rigging allegations

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
The Commonwealth Bank is disputing allegations made by ASIC that it rigged the bank bill swap reference rate (BBSW) and engaged in unconscionable conduct. ASIC initiated civil penalty proceedings yesterday, alleging CBA traded a large number of its ...

ASIC recoups $40m from NAB and ANZ

ALEX BURKE  |  TUESDAY, 21 NOV 2017
... ASIC $20 million each to cover investigation costs over the banks' participation in the setting of the bank bill swap rate (BBSW). On November 10, the Federal Court ruled that both banks had attempted to engage in "unconscionable conduct" with regards ...

ANZ and ASIC settle over BBSW case

DARREN SNYDER  |  MONDAY, 23 OCT 2017
ANZ and the Australian Securities and Investments Commission have reached a confidential and in-principle agreement to settle court action relating to the Australian bank bill swap rate market. This morning ASIC asked the Federal Court to stand down ...

Axsesstoday completes $20m bond issue

KERRIE SYDEE  |  FRIDAY, 23 SEP 2016
... subscribed through FIIG's client base of wholesale and sophisticated investors. The notes offer a floating return of three, BBSW +6.50% p.a. to October 2020 then stepping up to 3m BBSW +7.5%. FIIG chief executive Mark Paton said Axsess had materially ...

US funds launch lawsuit against big four banks

ALEX BURKE  |  FRIDAY, 19 AUG 2016
... Westpac, as well as Macquarie and other investment banks for their alleged rigging of the bank bill swap reference rate (BBSW). The Sonterra Capital Master Fund, Frontpoint Financial Services and derivatives trader Richard Dennis filed the claim. Several ...

NAB responds to ASIC market manipulation allegations

ALEX BURKE  |  WEDNESDAY, 8 JUN 2016
... "unconscionable conduct and market manipulation." ASIC's concerns relate to the setting of the bank bill swap reference rate (BBSW) from 2010 to 2012; the regulator previously targeted ANZ and Westpac in this investigation in March and April respectively. ...

ASIC commences proceedings against Westpac

ALEX BURKE  |  WEDNESDAY, 6 APR 2016
... The regulator said this behaviour was due to the bank having "a large number of products which were priced or valued off BBSW and that it traded in the bank bill market with the intention of moving the BBSW higher or lower." In court, ASIC said, it is ...

ANZ ready to fight ASIC over BBSW

MARK SMITH  |  MONDAY, 7 MAR 2016
... issuance and interest rate risk management operates and the limited case law which applies to this area. "Our practices in the BBSW market were consistent with Australian market practices in wholesale financial markets and we reject ASIC's characterisation ...

RBS enters enforceable undertaking

STAFF WRITER  |  TUESDAY, 22 JUL 2014
... has entered an enforceable undertaking in relation to "potential misconduct" involving the Australian Bank Bill Swap Rate (BBSW), the Australian Securities and Investments Commission (ASIC) has announced. RBS will also voluntarily donate $1.6 million ...

BNP Paribas enters EU with ASIC

LAURA MILLAN  |  WEDNESDAY, 29 JAN 2014
... Securities and Investments Commission (ASIC) in relation to potential misconduct involving the Australian Bank Bill Swap Rate (BBSW). In November 2012, BNP reported to ASIC that it had found conduct indicative of seeking to influence its BBSW submissions ...