This needs to be resolved as soon as possible, and we encourage users of LIBOR to engage with ISDA on this important work. Interest rate benchmarks for the Australian dollar The key IBOR benchmark for the Australian dollar is BBSW. The RBA and the Australian Securities and Investments Commission (ASIC) have been working closely with industry to ensure that it remains robust.
To ensure that financial inclusion is “meaningful”, banks have also been advised that their application for licences will be evaluated on the basis of the quality of their outreach – the extent of their penetration to unbanked areas, flow of credit to priority sectors, customer service to small account holders particularly by rolling out customer friendly products and innovative use of technology. 44.