What is the difference between a Floating-Rate Notes and Bank Bill?

Question

The reference rate for FRN in Australia is BBSW - calculated on monthly, quarterly, yearly basis. while the Bank Bill rate is calculated on 30 day, 90 day, 120 day or 180 day basis.

Is it that Bank bill rate is referring to NEW bills and FRN is referring to bill traded on the secondary bill market?

Answer 1

Most FRNs are actually floating-rate Eurobonds and are, therefore, medium-to-long-term securities. Bank bills generally are short-term.