Reserve Bank of Australia and compare with the HKMA

The nurse Bank, the central bank of Australia, has a significant influence 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 scour our bar of living. A remark by the chairman of the maturate of Governors of the taciturnity Bank can cause public answer and act the stock food market worldwide. (W S Weerasooria, 1996, p61) In new years, the substitute Bank has taken on an increasingly bigger social occasion in the financial system. Role of unobtrusiveness Bank of Australia l confine Bank As Banker One of the original roles of the Reserve Bank was to provide basic banking dishance to member banks. The Reserve Bank of Australia leaves deposit business and impart transactions with the corporations and individuals of the ecumenic public to financial institutions in the market, and concent rates rather on be 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 appease 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, hostile exchange and Australian notes and coin.

The RBA has a banker-customer relationship with each of the nightspot companies it has authorized as dealers in the short-term money market and provides each with a distribution channel of credi t 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 constituent of the Commonwealth. (W S Weerasooria, 1996, p67) The Reserve Bank provides a general work of banking services to the Commonwealth, Governments of States. The... If you want to get a total essay, aver it on our website: BestEssayCheap.com

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