Commonwealth Bank is reviewing its membership of two interest rate panels in the Libor market following National Australia Bank’s decision to withdraw from the scandal-ridden system.
CBA is the only Australian bank participating in the Libor market, through its membership of panels that set inter-bank rates for loans denominated in Australian and New Zealand currencies.
While international regulators investigating rigged bids and insider trading within the Libor system have not turned the spotlight on either of these benchmarks, the reputation of the A$ and $NZ panels may...
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