All posts tagged "BBSW"
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530Australia & NZASX to Move Bank Bill Futures to Cash Settlement
It is widely believed that cash-settled contracts will increase trading activity and liquidity into and throughout expiry, and result in lower risk of failed settlement.
August 19, 2019 -
813Australia & NZAustralian Regulators Urge Action on LIBOR Transition
Firms should be aware of the size and nature of their LIBOR exposures, put in place robust fall-back provisions in LIBOR contracts, and be taking action to transition to alternative rates.
May 10, 2019 -
623Australia & NZ
RBA’s Kent Urges Continued Preparation for the End of LIBOR
The RBA's Christopher Kent urges market participants to continue preparing for the end of LIBOR by moving to alternative RFRs and adopting more robust fall-back provisions in contracts.
March 21, 2019 -
504Australia & NZASIC Officials Fear Excessive Focus on Litigation – Report
While ASIC officials talk up plans to fund more court cases, behind the scenes they are reportedly concerned about the community backlash and loss of confidence if cases are lost.
January 21, 2019 -
529Australia & NZFSB Issues Progress Report on Interest Rate Benchmark Reform
The FSB notes progress to strengthen major IBORs and identify RFRs and other alternative reference rates, highlighting actions taken in Australia, Hong Kong and Singapore.
November 15, 2018 -
845Australia & NZAustralian Court Orders A$3.3mn Penalty for Westpac BBSW Misconduct
The penalty is far less than the combined A$125mn that NAB, ANZ and CBA paid to settle their own BBSW cases with ASIC out of court.
November 12, 2018 -
689Australia & NZMarket Needs to Do More to Prepare for End of LIBOR – ASIC, RBA
Participants need to be clear that the LIBOR will end after 2021 and prepare to deal with the challenges this presents, Australian regulators said at the ISDA Annual Australia Conference.
October 24, 2018 -
266Australia & NZCBA Enters Enforceable Undertaking with ASIC for BBSW Manipulation
CBA will engage an independent expert to assess changes to the banks' policies, procedures, systems, controls, training, guidance and framework for the monitoring and supervision of employees and trading in Prime Bank Bills.
July 12, 2018 -
299Australia & NZ
Australian Court Ratifies CBA’s BBSW Settlement
CBA will pay a $A5m penalty, A$15m to a financial consumer protection fund, and $A5m towards ASIC's litigation and investigation costs; bank also agreed to enter into enforceable undertaking with ASIC.
June 25, 2018 -
2.7KAsia-PacificThe End of IBOR – The Asia Take
Though uncertainty remains on when LIBOR migration is really going to be due, the earlier the banks set this in motion, the lower the execution risk and cost in the long run. This article highlights the local benchmarking effort in...
June 19, 2018
