Reserve Bank of Australia and compare with the HKMA

The nurse Bank, the central bank of Australia, has a significant shape on our individual lives as well as on the national and international banking system. In the process of carrying out financial policy, the military stand-in Bank influences employment, interest rates, the availability of credit, and however our bar of living. A remark by the chairman of the add-in of Governors of the diffidence Bank can cause public reception and act the stock securities industry worldwide. (W S Weerasooria, 1996, p61) In upstart years, the support Bank has taken on an increasingly big social occasion in the financial system. Role of defy Bank of Australia l allow for Bank As Banker One of the original roles of the Reserve Bank was to provide basic banking assistance to member banks. The Reserve Bank of Australia leaves deposit business and impart transactions with the corporations and individuals of the common public to financial institutions in the market, and concentrat es rather on macrocosm a bank of banks. (G. Jay Francis, Susan M. Siegel, 2001, p41) Banks maintain transpose Settlement Accounts with the Reserve Bank. These accounts are used to sink balances amid banks arising from clearances of cheques. They are used to settle transactions between the banks and reserve Bank, arising from purchases and sales of government securities, unusual exchange and Australian notes and coin.

The RBA has a banker-customer relationship with each of the 9 companies it has authorized as dealers in the short-term money market and provides each with a distribution channel of credit to as sist its liquidity. The Reserve Bank Act dir! ects the Bank, as yet as the Commonwealth requires it to do so, to act as banker and financial agent of the Commonwealth. (W S Weerasooria, 1996, p67) The Reserve Bank provides a general part of banking services to the Commonwealth, Governments of States. The... If you want to get a total essay, magnitude it on our website: BestEssayCheap.com

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