In the end of May 2013 British Bankers Association (BBA) stopped publishing LIBOR rates for Australian and Canadian dollars in a light of recent scandals.
LIBOR rates were essential for creating zero curves for these currencies. BBA now recommends to use Bank Bill Swap Reference Rate (BBSW) for AUD and Canadian Dealer Offered Rate (CDOR) for CAD.
How would you convert these into zero curves?
I think the following two questions and related answers should help in answering the question:
Why use swap-rates in a yield curve?
and
Is there an Australian Interbank Rate?
Essentially to derive funding curves you gotta use what is left with the constraint that the source instrument has to be liquid enough and closely enough reflect true market conditions. The math behind sourcing such swap rates to generate a zero curve is standard, the only thing that changed is the reference rates used.
To be honest, I believe those submitted rates are not coming with any more guarantees to be free of rate rigging than any prior libor submissions. The vendor name changed, the topic is still fresh on people's minds and that is about it.
