Oceania

UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.

Credit Suisse has poached a Deutsche Bank veteran from Hong Kong to head its Australia business.

As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards an Australian dollar sector unaffected by the summer close.

As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.

Canadian Imperial Bank of Commerce reopened the Australian dollar covered bond market on Thursday with one of the largest deals from an overseas issuer at a cost that matched that of its dollar funding.

Investors jumped at the chance to buy Canadian Imperial Bank of Commerce’s Australian dollar covered bond on Wednesday.

ANZ's Paul Brickell has transferred to the bank’s loan syndications team as a director, according to a source close to the situation.

As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards a Kiwi and Aussie periphery unaffected by the summer close.

National Australia Bank has hired Ross McEwan as its new group CEO, as the bank seeks to improve its reputation after a damning report criticised its conduct.

Westpac has laid out plans to sell a pair of tier two bonds in the US dollar market, just days after the Australian Prudential Regulation Authority (Apra) put the asset class at the heart of its total loss-absorbing capacity (TLAC) framework.

The Bank of Montreal followed Toronto Dominion’s lead on Wednesday to join the Canadian bail-inable Kangaroo frenzy, placing A$750m of five year debt.

Australia’s bank capital regulator has refused to back down from requiring the country’s largest banks to meet new loss-absorbing debt targets with tier two bonds, raising the prospect of a wave of supply over the next four years. The question now is: how much will it cost them? Tyler Davies reports.