Reserve Bank of Australia Annual Report – 1982 The Bank's Accounts


The Bank's aggregate balance sheet increased by $867 million to $12,747 million in 1981/82. Factors influencing the main items have been mentioned elsewhere in the Report.

The main movements in the balance sheet were the strong increase in foreign exchange holdings and further increases in Australian notes on issue and in Statutory Reserve Deposits of the trading banks; the weaker gold market resulted in a substantial reduction in the value of the Bank's gold holdings and in its reserves. There was little change in holdings of Australian Government securities or in liabilities to governments.

Total operating earnings rose by $169 million to $553 million. The increase reflected higher earnings on foreign currency investments and on Australian Government securities. Net deficits on revaluation of gold and on deliveries of forward exchange contracts, losses from dealings in Australian Government securities, and net surpluses from revaluation of foreign currency holdings, were taken to reserves.

The aggregate net profits of $442.1 million were appropriated $437.9 million to the Commonwealth, $2.1 million to the Rural Credits Department Reserve Fund and $2.1 million to the Rural Credits Development Fund.