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RBA Glossary definition for ES

ES – Exchange Settlement (account, balances or funds)

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Domestic Financial Markets

10 Aug 2011 SMP – August 2011
To maintain the cash rate at the Board's target, the Reserve Bank has kept aggregate exchange settlement (ES) balances around $1 billion, although temporarily higher balances have been accommodated around
https://www.rba.gov.au/publications/smp/2011/aug/dom-fin-mkts.html

Domestic Financial Markets

10 Nov 2010 SMP – November 2010
Through its market operations, the Reserve Bank has generally maintained exchange settlement (ES) balances around $1 billion, and the cash rate has traded at target on all days.
https://www.rba.gov.au/publications/smp/2010/nov/dom-fin-mkts.html

Domestic Financial Markets

10 Nov 2011 SMP – November 2011
Through its open market operations, the Reserve Bank has kept the level of exchange settlement (ES) balances steady at around $1 billion for more than 12 months, although temporarily higher demand
https://www.rba.gov.au/publications/smp/2011/nov/dom-fin-mkts.html

Domestic Financial Markets

10 Aug 2009 SMP – August 2009
Aggregate exchange settlement (ES) balances held at the Reserve Bank by the commercial banks have been reduced from over $2 billion in May (and over $10 billion at their peak late
https://www.rba.gov.au/publications/smp/2009/aug/dom-fin-mkts.html