Reserve Bank of Australia Annual Report – 2014 Pro Forma Business Accounts

The following sets of accounts for each of the Reserve Bank's contestable businesses have been prepared in accordance with competitive neutrality guidelines. These accounts do not form part of the audited financial statements.

Transactional Banking Registry
2012/13
$ million		 2013/14
$ million		 2012/13
$ million		 2013/14
$ million
Revenue
– Service fees(a) 63.7 83.1   0.6 0.4
– Other revenue 5.7 5.4   0.1 0.0
Total 69.4 88.5   0.7 0.4
Expenditure
– Direct costs(a) 65.4 81.1   0.4 0.3
– Indirect costs 0.3 0.2   0.0 0.0
Total 65.7 81.3   0.4 0.3
Net profit/(loss) 3.7 7.2   0.3 0.1
Net profit/(loss) after taxes(b) 2.5 5.1   0.2 0.1
Assets(a)
– Domestic markets investments 527.7 524.8   1.3 1.3
– Other assets 17.4 25.4   0.0 0.0
Total 545.1 550.2   1.3 1.4
Liabilities(c)
– Capital and reserves 25.0 25.0   1.0 1.0
– Deposits 505.8 509.8   0.0 0.0
– Other liabilities 14.3 15.4   0.3 0.4
Total 545.1 550.2   1.3 1.4
(a) Comparative figures for service fee revenue and direct expenses have been restated. Banking service fees received were previously presented net of the associated expenses. However, as the Reserve Bank acts as principal in these transactions, revenue from banking service fees and the associated expenses are now shown in gross terms. This restatement has no effect on Net Profits.
(b) In accordance with competitive neutrality guidelines, income tax expense has been calculated and transferred to the Commonwealth as a notional part of the Reserve Bank's annual profit distribution.
(c) As at 30 June.