ASIC backs Westpac rate rigging claim with explosive recordings
Traders at Westpac openly discussed how "f------ with the rate set" could hurt some customers and ultimately and "deservedly" harm the bank's reputation if an inquiry into the bank bill market was ever conducted.
The revelations are presented in new court documents that provide fresh detail on alleged manipulation by the bank of a key benchmark interest rate, the bank bill swap rate (BBSW).
The full read is at http://www.smh.com.au/business/bank...ith-explosive-recordings-20160515-govs79.html
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