Australia Bank Bills
After Australia Bank Accepted Bills are settled for the price of the Australian dollar, the Australian Financial Markets Association (AFMA) calculates and releases the Bank Bill Swap (BBSW) reference rate. AFMA manages this rate through bids and offers to swap Australian dollars by 14 banks that comprise the committee of bankers. Bids and offers are submitted to two decimal places with a bid/offer of a five-basis-point spread in each maturity on either side. AFMA institutes established spreads for BBSW in each maturity that are reviewed annually. Currently, the one-to-two-year swap rate attaches to it a six-basis- point spread, the three-to-five-year spread's rate is eight basis points, the 7- to 10-year is 10 basis points, ...
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