SYDNEY, April 5 (Reuters) - The Australian Securities and Investments Commission (ASIC) said on Tuesday it has started legal action against Westpac Banking Corp (WBC) for allegedly fixing the bank bill swap reference rate (BBSW).
The regulator alleges that Westpac traded in a manner intended to create an artificial price for the BBSW on 16 occasions between April 6, 2010 and June 6, 2012.
The BBSW is the primary interest rate benchmark used in Australian financial markets to price home loans, credit cards and other financial products worth trillions of dollars.
News: Australian securities regulator starts legal action against Westpac over alleged rate-fixing
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Last
$38.48 |
Change
0.530(1.40%) |
Mkt cap ! $131.6B | |||
| Open | High | Low | Value | Volume |
| $38.20 | $38.56 | $38.10 | $289.9M | 7.544M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 837 | $38.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.49 | 750 | 1 |
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| WBC (ASX) Chart |