Reserve Bank of Australia Annual Report – 2002 Financial Statements Note 12 – Remuneration of Executives

The number of executives whose remuneration packages, measured in terms of costs to the RBA, fell within the following bands was:

Remuneration band	Number 2002	Number 2001
$100,000 – $109,999	4	1
$110,000 – $119,999		6
$120,000 – $129,999	8	7
$130,000 – $139,999	14	15
$140,000 – $149,999	13	11
$150,000 – $159,999	7	4
$160,000 – $169,999	4	4
$170,000 – $179,999	4	4
$180,000 – $189,999	3	7
$190,000 – $199,999	5
$200,000 – $209,999	1	1
$210,000 – $219,999	1
$220,000 – $229,999		2
$230,000 – $239,999		5
$240,000 – $249,999	6	1
$250,000 – $259,999	1	1
$260,000 – $269,999	1
$290,000 – $299,999		4
$300,000 – $309,999	4
$320,000 – $329,999		1
$340,000 – $349,999	1
$480,000 – $489,999		1
$490,000 – $499,999	1

Total remuneration received or due and receivable by these 78 executives amounted to $13.668 million (75 executives totalling $12.913 million in 2000/01). Remuneration includes cash salary, the RBA's contribution to superannuation, housing assistance, motor vehicles, car parking and health insurance and the fringe benefits tax paid or payable on these benefits. Remuneration excludes amounts paid to executives posted outside Australia for the whole or part of the financial year. Remuneration includes amounts paid to executives who are also members of the Bank Board (refer Note 14).

Termination payments of $1.055 million were made to executives who left the Bank during 2001/02 ($1.113 million in 2000/01); these payments are not reflected in the above table.