ANZ has reached an agreement to settle a class action lawsuit filed against it in the United States in 2016. The lawsuit involved several banks, including ANZ, and was related to the bank bill swap rate (BBSW) and trading of BBSW-based products.
The settlement does not include any admission of liability by ANZ. It is still subject to negotiation, execution of complete settlement terms, and court approval. The specific terms of the settlement are confidential, but the financial impact on ANZ is not considered material.