Reserve Bank of Australia Annual Report – 1998 Financial Statements Note 2 – Net Profits

1997 $'000 1998 $'000
Revenues
Income from overseas investments (Note 1(b)) 796,962 1,043,284
Gains on overseas investments 65,374 104,497
Income from domestic government securities (Note 1(c)) 1,615,713 1,059,168
Gains on domestic government securities 394,293 63,811
Gains on foreign currency (Note 1(b)) 555,041 2,467,515
Interest on loans, advances, etc. 4,343 19,776
Net interest from overnight settlements systems 3,319 8,841
Reimbursement by Commonwealth for loan management and registry expenses 2,698 2,290
Banking services fees received from Commonwealth 14,871 27,509
Income from rental of Bank premises (incl. cleaning/maintenance fees) 5,721 6,660
Commission on gold loans 35,125 21,277
Sales of numismatic and other note products 17,049 25,030
Earnings on shares in Bank for International Settlements (Note 8) 2,067 2,541
Gain on sale of durable assets – 1,125
Maintenance of Value payment from International Monetary Fund 19,147 –
Other 17,148 25,226
Total Revenues 3,548,871 4,878,550
Less: Expenses
Interest on deposit liabilities 628,310 248,025
Staff costs 119,354 101,866
Special redundancy/retirement payments (Note 10) 12,912 29,684
Depreciation of Bank premises (Note 6) 7,091 7,145
Depreciation of durable assets (Note 6) 6,864 6,547
Premises 10,467 11,764
Equipment 11,281 13,150
Stores and stationery 1,280 1,048
Materials used in note production 9,469 16,577
Travel 1,706 2,245
Consultants' fees (Note 12) 1,672 2,129
Telecommunications 1,320 1,808
Reference materials 1,881 2,012
Maintenance of Value payment to International Monetary Fund – 14,628
Other 5,587 16,945
Total Expenses 819,194 475,573
Net Profit 2,729,677 4,402,977