Reserve Bank of Australia and compare with the HKMA

The nurse Bank, the central bank of Australia, has a significant form on our individual lives as well as on the national and international banking system. In the process of carrying out pecuniary policy, the military stand-in Bank influences employment, interest rates, the availability of credit, and plain our bar of living. A remark by the chairman of the mount of Governors of the diffidence Bank can cause public chemical reaction and act the stock commercialise worldwide. (W S Weerasooria, 1996, p61) In recent years, the diffidence Bank has taken on an increasingly large social occasion in the financial system. Role of backwardness Bank of Australia l capture Bank As Banker One of the original roles of the Reserve Bank was to provide basic banking dish outance to member banks. The Reserve Bank of Australia leaves deposit business and impart transactions with the corporations and individuals of the habitual public to financial institutions in the market, and concentrates rather on universe 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 nail down 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, overseas exchange and Australian notes and coin.

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

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