This section predominantly focusses on developments in New Zealand's primary short-term interest rate benchmark, the bank bill
rate benchmark (also known as 'BKBM').
The bank was defending the case brought by the Australian Securities and Investments Commission in June for allegedly rigging the bank bill
swap rate (BBSW).
RBS also reported to ASIC that it had found limited instances of communications discussing trading of Reference Bank Bills
with reference to the setting of BBSW.
Charles Schwab Corporation (NYSE:SCHW), a provider of financial services and banking solutions for investors, announced on Friday that it has released Schwab Bank Bill
Pay for iPad, iPhone and Android, a new Bill Pay feature that enables Schwab Bank clients to make, edit, monitor and cancel payments from their mobile and iPad devices.
ASIC alleged that NAB 'traded in a manner that was unconscionable and intended to create an artificial price for bank bills
on 50 occasions between June 8, 2010 and December 24, 2012.
There is a risk that dividends will not be paid, or that the dividend rate will fall as a result of movements in the bank bill
The changes announced above will take effect from the beginning of November, with the final TAF and Reserve Bank bill
tenders scheduled for the week beginning of 26 October.
Under the bank bill
transaction, ABC agrees to pay the bank bill
holder a fixed interest rate.
People's Bank of China will place CNY45bn worth of central bank bills
to Bank of China Limited (BOC) (601398.
The analysis discussed in this article uses bank bill
rates for standard maturities, and interpolates those rates to obtain day-by-day term rates.