Financial institutions / Big five & fintech (1,684 items)

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NAB made P&L the priority in rates trading

NAB's rate traders "were judged by [their] P&L outcomes", while the bank was "incentivised to manipulate BBSW" and "maintain yields", two operatives of the bank's treasury told the Federal Court yesterday during the case centred on ASIC's allegations of unconscionable conduct against Westpac. One of these traders also told the court there was "no formal instruction on BBSW". read more

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