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The Reserve Bank is currently governed by the Reserve Bank Act 1959. [4] Section 10(2), commonly referred to as the Bank's charter, states that Bank's duty is "to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia" to be achieved by exercising its powers "to contribute to:
The Reserve Bank of Australia Building is a heritage-listed bank building at 20-22 London Circuit, City, Canberra, Australian Capital Territory, Australia. It was designed by Howlett and Bailey in 1962 and built from 1963 to 1965 by Civil & Civic. It was added to the Australian Commonwealth Heritage List on 22 June 2004. [1]
The Australian Government comprises 20 portfolio departments, each representing a seat in the federal cabinet and leading its respective portfolio area: [4] [2] Attorney-General's Department; Department of Agriculture, Fisheries and Forestry; Department of Climate Change, Energy, the Environment and Water; Department of Defence; Department of ...
The Federal Bank of Australia was established in Melbourne in 1881, and opened for business in April, 1882. Initially successful, the company expanded to New South Wales by absorbing the Sydney and Country Bank Limited in 1882. Banknotes were issued at branches in Melbourne, Sydney and Adelaide. [1]
The Australian Treasury was established in Melbourne in January 1901, after the federation of the six Australian colonies. [3] In 1910, the federal government passed the Australian Notes Act 1910 which gave control over the issue of Australian bank notes to The Treasury and prohibited the circulation of state notes and withdrew their status as legal tender.
Tapping your card at the grocery store checkout might feel far removed from the giant table inside the U.S. Federal Reserve building in Washington D.C., where the central bank's economists meet ...
After holding various positions in the Bank prior to 1990, he accepted a position as Visiting Scholar at the Federal Reserve Bank of San Francisco.Subsequently, Stevens held positions in the Reserve Bank of Australia, as Head of the Economic Analysis Department, the Head of the International Department, and was Assistant Governor (Economic) from 1996 to 2001, prior to his appointment as Deputy ...
The bank was also the first bank in Australia to receive a federal government guarantee. The bank's earliest and most strenuous proponent was the flamboyant American-Australian Labor politician King O'Malley, and its first governor was Sir Denison Miller. The bank opened its first branch in Melbourne on 15 July 1912. [12]