ASIC has expanded its lawsuit against ANZ , Westpac , and National Australia Bank to include losses sustained for a longer period of time than previously asserted . The regulator has included various at - risk counterparties in its report , stating that the bank bill swap rate ( BBSW ) , which was allegedly manipulated by the three banks , caused the counterparties to suffer continued losses . The next case management hearing will be held before Federal Court judge Jonathan Beach on August 22 in Melbourne. Separate proceedings against the banks could be sought as firms attempt to determine the extent to which they were affected if it is ruled that the BBSW was manipulated .
ASIC has expanded its lawsuit against ANZ , Westpac , and National Australia Bank to include losses sustained for a longer period of time than previously asserted . The regulator has included various at - risk counterparties in its report , stating that the bank bill swap rate ( BBSW ) , which was allegedly manipulated by the three banks , caused the counterparties to suffer continued losses . Separate proceedings against the banks could be sought as firms attempt to determine the extent to which they were affected if it is ruled that the BBSW was manipulated .