Structure, organisations and key people
Central bank (established under the Reserve Bank Act 1959), whose role is focused on the objectives of monetary policy, overall financial system stability and regulation of the payments system. Within the Reserve Bank there are two boards---the Reserve Bank Board and the Payments System Board; the Governor is Chairman of each. The Reserve Bank Board is responsible for the Bank's monetary and banking policy, and the Bank's policy on all other matters, except for its payments system policy. The Payments System Board is responsible for the Bank's payments system policy, and has regulatory powers to ensure safety, greater competition and efficiency in the payments system, consistent with overall financial system stability. The Reserve Bank is banker to the Australian Government and provides a range of transactional banking services. It prints and manages the Note Issue. The notes are manufactured by a separately incorporated, wholly owned subsidiary---Note Printing Australia Limited. As agent for the Australian Government, the Reserve Bank conducts a registry of Commonwealth Government securities. The Bank oversees Australia's foreign exchange market and holds and manages Australia's official reserves of gold and foreign exchange.
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