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Why rigging of the bank bill swap rate hurts everyone

Journal Article


Abstract


  • ANZ Bank’s alleged manipulation of the bank bill swap reference rate (BBSW) is Australia’s version of the LIBOR debacle.

    The workings of BBSW, like LIBOR, make for a very complex story. BBSW is similar to LIBOR (London Interbank Offer Rate), in that it’s used to set rates on hundreds of trillions of dollars (yes, hundreds of trillions) worth of transactions, including interest rates on credit cards, student loans and mortgages.

Publication Date


  • 2016

Citation


  • A. Schmulow, 'Why rigging of the bank bill swap rate hurts everyone' (2016) 9 March The Conversation 1-5.

Number Of Pages


  • 4

Start Page


  • 1

End Page


  • 5

Volume


  • 9 March

Place Of Publication


  • Australia

Abstract


  • ANZ Bank’s alleged manipulation of the bank bill swap reference rate (BBSW) is Australia’s version of the LIBOR debacle.

    The workings of BBSW, like LIBOR, make for a very complex story. BBSW is similar to LIBOR (London Interbank Offer Rate), in that it’s used to set rates on hundreds of trillions of dollars (yes, hundreds of trillions) worth of transactions, including interest rates on credit cards, student loans and mortgages.

Publication Date


  • 2016

Citation


  • A. Schmulow, 'Why rigging of the bank bill swap rate hurts everyone' (2016) 9 March The Conversation 1-5.

Number Of Pages


  • 4

Start Page


  • 1

End Page


  • 5

Volume


  • 9 March

Place Of Publication


  • Australia