Bank swap rate needs to be trusted: RBA

Posted by Simon Dehne on February 22, 2016 in Latest News with No Comments

Australian MoneyA Reserve Bank official has refused to comment about any alleged manipulation of the rate at which banks lend money to each other, but says markets need to have confidence in their integrity.
RBA assistant governor for financial markets Guy Debelle wouldn’t to be drawn on the Australian Securities and Investments Commission’s three-year investigation into alleged interest rate rigging by the big banks.
The corporate watchdog’s investigation into the bank bill swap rate (BBSW) is nearing the finish line, and ANZ also won’t comment on speculation that it could soon face legal action.

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