The Australian Securities and Investments Commission has clarified a statement made earlier this week concerning potential Corporations Act breaches by directors of the Reserve Bank of Australia's subsidiaries Securency and Note Printing Australia (NPA). ASIC was keen to emphasise that its investigation went beyond the Iraq bribery allegations aired on Monday night's ABC Four Corners program. The Australian Federal Police provided "more than 10,000 pages of documents" on alleged misconduct by NPA agents in Indonesia, Malaysia, Vietnam and Nepal, and these were examined, said ASIC. Australia's syndicated loan market, once the largest in the Asia Pacific region in terms of volume, closed US$50.5 billion worth of loans in the first three quarters of 2013. This was not far off the volume recorded in the comparable period in 2012, of US$52.5 billion, but was overshadowed by China (US$62 billion) and Hong Kong's (US$58.1 billion) volumes, according to figures provided by Thomson Reuters. With limited M&A activity in the Australian market, the majority of loans were raised to refinance existing debt.