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ANZ agrees to settle US class action complaint without admission of liability

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NNR

SYDNEY: ANZ today announced it had reached an agreement to settle a class action brought against it in the United States during 2016.

The class action named a number of banks, including ANZ, and related to the bank bill swap rate (BBSW) and the trading of BBSW-based products.

The settlement is without admission of liability and remains subject to negotiation and execution of complete settlement terms as well as court approval.

The terms of the settlement remain confidential. The financial impact of the settlement is not material, a news release said.

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