On December 5th 2011, Alison was advised by her bank that her application for a bill acceptance facility that would allow her to issue 120-day bank bills with a total face value of $850,000 in June 2012, was successful.These will be sold to yield BBSW+0.5% p.a.Concerned that interest rates may rise before the bills are issued on June 5th, Alison assembled the following FRA quotations payable against the reference rate of BBSW.