Reserve Bank of Australia Annual Report – 1978 Staff and Premises


The Board acknowledges with gratitude the loyal and conscientious service of its staff throughout the year.

The year again involved heavy work loads in many sections of the Bank. The response of the staff to these demands, and a continued review of the efficiency of operations, were such that staff levels in most areas did not increase. Changes in work procedures at the Note Printing works at Fitzroy contributed substantially to the overall reduction of 57 in the Bank's workforce during the year. This result follows an increase of 20 in the year to 30 June 1977, and a decrease of 126 in the preceding twelve months. The distribution and location of the Bank's staff over the past three years is shown in the table below.

The figures this year include a total of 109 officers on long service, confinement/maternity and other extended leave, and 19 on secondment to other organisations in Australia and overseas. Mr R.A. Johnston continues as an executive director of the International Bank for Reconstruction and Development. Mr L.W. Woodbury remains seconded to the Bank of Papua New Guinea as Deputy Governor. Mr A.S. Holmes, O.B.E. resumed with the Bank in April, following completion of his secondment to the Department of the Prime Minister and Cabinet.

Mr W.G. Brazenor retired from the position of Manager for Victoria in October 1977.

The Bank is moving to establish a small representative office in New York to handle investment of Australia's US dollar reserves, economic and financial intelligence, and liaison with Australian banks operating in the USA. Mr K.J. Wiblin and Mr A.R. Lanes have been appointed, respectively, Representative and Deputy Representative in New York.


Initial site preparation for the new Note Printing works at Craigieburn, Victoria, was completed during 1977. A tender of $27.9 million was accepted for the major construction phase, which commenced in early 1978. Work continued on the extension to the Bank's Head Office in Sydney.

  As at
Activity 30/6/76 30/6/77 30/6/78
Services to customers
— banking 1,699 1,725 1,709
— inscribed stock registries 155 164 164
Note printing and issue — Fitzroy 722 707 670
Administration of monetary and banking policy 501 508 495
Other administration 549 542 551
Branches 1,752 1,780 1,772
Note Issue Department, Fitzroy 722 707 670
Head Office 1,152 1,159 1,147
Total 3,626 3,646 3,589