So the lack of liquidity in the underlying market for 1-month bills appears to be affecting the benchmark. Graph 16  Given these issues, users of 1-month BBSW should be preparing to use alternative benchmarks. [14] This is particularly relevant to the securitisation and derivatives markets, which frequently reference the 1-month rate.
We cannot forget that by limiting policy options on the usage of public funds, legislators and regulators may have ended up exacerbating risks in the event of a (systemic) crisis. Against this background, should we not discuss: the application of the BRRD in its current form only to banks that are eligible for the European safety net?