The Federal Court on Friday approved a $100 million settlement between the sharemarket regulator and two of the major banks accused of seeking to rig the benchmark bank bill swap rate (BBSW). ANZ Bank and National Australia Bank will both pay $50 million each to end the case brought by the Australian Securities & Investments Commission, Justice Jayne Jagot told the Federal Court in Melbourne. The penalties should serve as a deterrent, she said.
The big risk for the banks in settling the case is whether any admissions will be subsequently used in other legal actions. National Australia minimized the potential of further suits by admitting only to attempting to engage in unconscionable conduct; class actions in Australia rely on the plaintiff being able to show actual losses. Further, the bank didn’t admit to any breaches later than 2011, and civil claims in Australia typically need to be filed within six years of the alleged breach.
Unaudited cash profit, which excludes one-time items, increased to A$2.65 billion ($2 billion) in the three months ended Sept. 30 from A$2.4 billion a year earlier, the bank said in a statement on Wednesday. The bank’s bad debt expense was A$198 million in the quarter, equal to 11 basis points of gross loans, down from 15 basis points last fiscal year. CBA’s quarterly results round-off a subdued earnings seasons for Australia’s big four banks.
Muck Rack makes it simple to find people, tweets, or articles that mention any name, keyword, company, hashtag etc. We've compiled this guide to help you make the most of your search.
Selecting a term
Start searching tweets, articles from media outlets, articles mentioned in tweets, journalists'
names, titles and bios with some suggested searches:
Companies or Topics (e.g. iPhone, Microsoft)
Phrases (e.g. "cloud computing") — use quotes to keep the terms together
Twitter handles (e.g. @username) — returns those who have mentioned or replied to
Names (e.g. "David Pogue")
Hashtags (e.g. #sxsw, #london2012)
Bio details (e.g. vegan, Olympics, father)
Muck Rack's Advanced Search allows for many boolean operators.
Find results that mention multiple specified terms, use AND or
+. For example, ensure each result contains both Elon Musk and Mark Zuckerberg by
searching Musk AND Zuckerberg or Musk + Zuckerberg.
Use the operators OR or , to broaden your search when you'd like either of
multiple terms to appear in results. (This is the default behavior of our search when no operators
are used). For example, results will contain either cake or cookie by searching cake OR cookie or cake,cookie
Use NOT or - to subtract results from your search. For
example, searching Disney will yield results about the Walt Disney Company as well as Walt Disney
World Resort. To exclude mentions of Disney World, search for Disney -World or Disney
When using one of these operators with a phrase, enclose it in quotation marks. For example, you can
find results about smartphones excluding Apple's iPhone 4S by searching smartphone -"iPhone
Exact case matching or punctuation
If you're searching for a brand name or keyword that relies on specific punctuation marks or capitalization, you can
find results that match your exact query by adding matchcase: before the keyword you're searching for, like matchcase:E*TRADE .
Use parentheses to separate multiple
boolean phrases. For example, to find journalists talking about having fun in Disney World or
Disneyland, search for ("disney world" OR disneyland) AND fun.
An asterisk can be used to search for any variation of a root word truncated by the asterisk. For example, searching for admin* will return results for administrator, administration, administer, administered, etc.
A near operator is an AND operator where you can control the distance between the words. You can vary the distance the near operation uses by adding a forward slash and number (between 0-99) such as strawberries NEAR/10 "whipped cream", which means the strawberries must exist within 10 words of "whipped cream".