This is particularly the case for products issued by banks, such as FRNs and corporate loans. The counterparties to these products would still need derivatives that reference BBSW so that they can hedge their interest rate exposures. It is also prudent for users of  any benchmark to have planned for a scenario where the benchmark  no longer exists.
Apart from raising the financial limits, the Reserve Bank has also  7  Overseas investments by Indian companies – evolution of policy and trends : keynote address by Ms Shyamala Gopinath, Deputy Governor of the Reserve Bank of India, at the International Conference on Indian cross-border presence/acquisitions, Mumbai, 19 January 2007.