The senior Westpac rates trader at the centre of misconduct allegations in the bank bills market told the Federal Court yesterday that he was "probably not all that interested anyway," in much of the years-old banter being relied on by ASIC to build its case. read more
Financial institutions / Big five & fintech (1,684 items)
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Westpac New Zealand has had its minimum capital requirements increased after the Reserve Bank of New Zealand found it had failed to comply with regulatory obligations relating to its status as an internal model bank. read more
Foreign News: Calls for post-Brexit FTA, spend bitcoin where Visa is accepted, US banks band together on third-party risk management, and more
JPMorgan has called for a free-trade agreement between the UK and the EU covering financial services, saying a long-term FTA would allow it to "continue to use London as a hub" after Brexit. read more
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