The issues engulfing the bank’s trading team are not about complicated bond trades. It’s about an alleged double act of deceit and manipulation of the taxpayer.
In September, representatives of ANZ were summoned to Canberra to meet senior staffers of the government’s debt agency.
More than six months had passed since the bank had acted as a risk manager on a $14 billion government bond sale and the agency – the Australian Office of Financial Management – still appeared troubled by the events of that day.
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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
