Reserve Bank of Australia Annual Report – 1965 Internal Matters


The Bank's building programme moved forward during the year with the completion of two buildings, substantial progress on another two, and work on other projects preliminary to actual building operations.

The new Head Office building at 65 Martin Place, Sydney was occupied on 18th January, 1965. The new Canberra premises have also been completed and the Branch commenced operations at the new location on 10th May, 1965.

Work on the construction of new branch buildings in Melbourne and Adelaide is progressing. These buildings will be completed after February, 1966 but the contractors have undertaken to finish the basements by October, 1965 so they may be used for the storage and issue of decimal currency notes and coin.


The Bank keeps under constant review developments in office machines and techniques and adopts new methods as opportunity offers. Its mechanisation programme was substantially advanced towards the end of the year with the installation of a new computer system at Head Office. The applications planned for earliest introduction are deposit accounting, which includes the servicing of the very high volume of cheques drawn on Commonwealth Government accounts, maintenance of Inscribed Stock Registry records and the Bank's payroll. Other accounting and statistical functions, including the accounting for currency notes on issue, will be brought on to the system as it is developed.


The Board takes this opportunity of conveying to the staff its appreciation of the manner in which all members carried out their duties and the extra work involved in the shift to new premises and the extension of central banking services. Preparation for the introduction of decimal currency has also meant a great deal of additional work, which will increase as the change-over date approaches.

Mr. J.B. Wright has returned from London to Head Office where he has special responsibility for the Bank's work in relation to Papua and New Guinea.

During the year various officers assisted in the work of other institutions. In Australia, Mr. E.S. Eyers was made available to help set up the Housing Loans Insurance Corporation and was appointed Chairman, while a number of staff were seconded to Government departments to assist in special assignments.

In Washington, Mr. J.M. Garland continues to hold the office of Executive Director for Australia, South Africa, Viet-Nam and New Zealand with the International Monetary Fund and the International Bank for Reconstruction and Development, and other officers are on secondment to the I.M.F.

Mr. J.G. Menzies continues as Deputy Governor of the Central Bank of Malaysia assisting in the establishment of its central banking functions, while two other officers are on loan to the Bank in research and administrative capacities.

During the year Mr. R.G. Sampson commenced duties as Deputy Governor of the Bank of Zambia. This Bank, which recently began operations, is in an initial phase of establishment. Another officer, Mr. R.C. White, is serving as Economist with the South Pacific Commission.

Through the I.M.F., Uganda was given short term assistance by Dr. D.G. Badger in establishing procedures for compiling balance of payments statistics. In Sierra Leone, Mr. C.L. Mobbs, who had carried out a similar assignment in Nigeria, helped to set up a system of exchange control. Mr. D.N. Sanders assisted in a course conducted in Bangkok by the Asian Institute for Economic Development and Planning.

During the year, the Bank participated in training programmes of various kinds. Officers attended the Seventeenth and Eighteenth International Banking Summer Schools in Oxford and Melbourne and other training courses, and a number of Colombo Plan trainees spent some time with the Bank. Reciprocal interchange of staff with central banks in various Asian countries continued. One officer obtained experience with the Bank of Japan (one of whose officers is expected to visit us later in 1965) while an officer of the Reserve Bank of India spent three months in Australia.