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RBA Glossary definition for settlement

settlement – The discharge of obligations arising from fund transfers between two or more parties.

RBA Glossary definition for Exchange Settlement Account

Exchange Settlement Account – An account held at the Reserve Bank of Australia by financial institutions to settle financial obligations arising from the clearing of payments.

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Bibliography

1 Jun 1990 RDP 9003
Warren Tease
1986), “Exchange Rate Depreciation, the Current Account and Wages”, Economic Record, Supplement, 14–21. ... Fahrer, J. (1990), “Is Pitchford Right? Current Account Adjustment, Exchange Rate Dynamics and Macroeconomic Policy”, Reserve Bank of
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