Reserve Bank of Australia Annual Report – 2002 Financial Statements Note 2 – Net Profits

Note 2002 $M 2001 $M
Interest revenue
Overseas investments 1(c) 1,186 1,480
Australian dollar securities 1(d) 957 1,147
Overnight settlements   30 39
Gold loans 1(b) 22 17
Loans, advances and other   1 2
  2,196 2,685
Net gains/(losses) on securities
Overseas investments 1(c) 207 485
Australian dollar securities 1(d) (99) (96)
Foreign currency 1(c) 360 1,131
  468 1,520
Dividend revenue
Earnings on shares in Bank for International Settlements   4 3
Fees and commissions
Banking services fees received   20 18
Other revenue
Reimbursement by Commonwealth for loan management and registry expenses   1 1
Rental of Bank premises   5 9
Sales of note products   19 22
Other   14 14
  39 46
Total   2,727 4,272
Less:
Interest expense
Deposit liabilities   454 702
Currency note holdings of banks 1(j) 78  
Repurchase agreements 1(e) 152 253
  684 955
General administrative expenses
Staff costs   86 83
Special redundancy/retirement payments 11 4 3
Depreciation of property 7 7 7
Depreciation of plant and equipment   8 9
Premises and equipment   25 25
Materials used in note production   8 10
Travel   3 3
Consultants' fees 13 2 2
Other   6 5
  149 147
Other expenses
Agency business reimbursement   3 1
Subsidiary income tax   – 1
Cash distribution expenses   4 4
Other   19 15
  26 21
Total   859 1,123
Net Profit   1,868 3,149