If it weren't for the profanities that littered the chat transcripts of Westpac and ANZ's traders, the hundreds of pages that lay out the claims of interest rate rigging would be incomprehensible.
Even to seasoned financial pros the Australian Securities and Investment Commission's high-profile case against the banks for allegedly manipulating the Bank Bill Swap Rate (BBSW) is bafflingly complex.
Loading...
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
