Banking

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Westpac is one of the banks where ASIC alleges traders rigged the bank bill swap rate. Mick Tsikas/AAP

Business Briefing: manipulating the BBSW

Business Briefing: the bank bill swap rate.
As more details are revealed in the bank bill swap rate rigging case we explain what the rate does, how it can be manipulated and what the government should be doing about it.

Banking regulation – descent into farce

It may be the effect of the election but the regulation of banking in Australia appears to be descending into farce. Just last week, maybe in anticipation of adverse events to come, the Australian Financial…
Senator Sam Dastyari, who has been involved in scrutinising the banks, and former Commonwealth Bank employee turned whistleblower Jeff Morris. Stefan Postles/AAP

Patchy laws leave corporate whistleblowers vulnerable

Whistleblowers need better incentives, compensation and protection under Australian law, especially those in the private and not-for-profit sectors.
Customers have the most to gain out of a review of the powers of the Financial Services Ombudsman, which sits under ASIC. Sergio Dionisio/AAP

Stronger role for ombudsman is the key to protecting bank customers

Out of the many changes the federal government has made to ASIC, the review of the Financial Ombudsman will have the biggest impact on customers.
Domestic violence campaigner Rosie Batty has been engaged by ANZ to help the bank respond to victims of family violence. Joe Castro/ AAP

The banking sector can do its bit to combat family violence

The Victorian Royal Commission into Family Violence put the pressure on banks to respond to economic abuse. Now the banks are taking the first steps.

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