Given the current money market distortions, however, considerable fluctuations in the spread between the one-month rate and the minimum bid rate cannot be ruled out. One reason could be tensions on the swap market owing to a decline in market participants’ willingness or ability to take risks.
It need not necessarily arise because the organization or superiors are corrupt but could grow out of the intense pressure to get a job done or, for that matter, from an organizational culture or a leadership that fosters an environment in which unethical behaviour takes place.