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.



Landcare and students work together to feed our koalas

Landcare and students work together to feed our koalas

Lawrence Landcare and Lawrence Public School join forces

Future bright as Clarence schools clinch state glory

premium_icon Future bright as Clarence schools clinch state glory

WESTLAWN proud as girls and boys reach knock-out finals.

CHASING DREAMS: Brothers make giant leap in the ring

premium_icon CHASING DREAMS: Brothers make giant leap in the ring

COTTEN brothers chasing glory in professional fight debuts.

Local Partners