ASIC: ANZ shows 'unconscionable conduct' in interest rates

CORPORATE watchdog ASIC started Federal Court action yesterday against ANZ Banking Group for allegedly manipulating a key market interest rate.

ASIC also alleged the bank showed "unconscionable conduct" in setting the bank bill swap reference rate 44 times between 2010 and 2012.

ANZ "rejected" the allegations.

"ANZ will be vigorously defending legal action brought by the commission," a spokesman SAID.

The swap reference rate is used to calculate payments on hundreds of billions of dollars of securities and loans.


Queensland and Australian titles decided

Queensland and Australian titles decided

Australia's top drivers went head to head in Kingaroy on Saturday.

More than a footy team

More than a footy team

South Burnett's first open women's rugby league team.

Juniors kick-off soccer season

Juniors kick-off soccer season

Junior players had their first game of the 2018 season this morning.

Local Partners