Blog
How it works
Services
Sign In
Homepage
Blog
How it works
Services
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
BBSW.AU
id: 472, Created by Stan Vick Chase, Scout

BBSW-BASED DERIVATIVES SETTLEMENT

Settled
01 January 2003
Class period Start
16 August 2016
Class period End
16 January 2023
Claim deadline
Several Big Banks agreed to pay a total of $185.9 million to settle a class action lawsuit to avoid further litigation on alleged manipulation of the Bank Bill Swap Rate (BBSW) and the prices of BBSW-Based Derivatives.

The Settlements will provide the following amounts for the benefit of qualifying members, inclusive:

JPMorgan Settlement: $7,000,000
Westpac Settlement: $25,000,000
ANZ Settlement: $35,500,000
CBA Settlement: $35,500,000
NAB Settlement: $27,000,000
Credit Suisse Settlement: $8,875,000
Morgan Stanley Settlement: $7,000,000
BNPP, Deutsche Bank, RBC, RBS and UBS Settlement: $40,000,000
TOTAL: $185,875,00
Alleged Offence
Other
Suspected Party
Other
Security Type
Interest Rate
Trade Direction
Long
Lead plaintiff
Richard Dennis, Sonterra Capital Master Fund, Ltd., FrontPoint Financial Services Fund, L.P., FrontPoint Asian Event Driven Fund, L.P., FrontPoint Financial Horizons Fund, L.P.
Attorney
Lowey Dannenberg, P.C., Lovell Stewart Halebian Jacobson LLP
Court
Southern District of New York
Judge
Hon. Lewis A. Kaplan.
Administrator
A.B. Data Ltd
Court hearing date
01 November 2022
+$185,875,000
Total Settlement Amount
Created by Stan Vick Chase, Scout

Bank Bill Swap Rate

The Bank Bill Swap Rate (BBSW), or Bank Bill Swap Reference Rate, is a short-term interest rate used as a benchmark for the pricing of Australian dollar derivatives and securities—most notably, flo...

    Ticker
    BBSW.AU
    Sector
    Financial Services
    Industry
    Financial Services
    Country
    Australia