Search: agency banking
RBA Glossary definition for agency banking
agency banking – Since 1 July 1999 all Australian Government departments and agencies have been responsible for their own individual banking arrangements. Under devolved banking arrangements, agencies are required to test the services previously provided by the Reserve Bank of Australia (RBA) against what is available from other financial institutions. However, the Australian Government's core account, the Official Public Account, remained with the RBA. A system sweeps balances of Australian Government departments and agencies from their transactional banker to the Official Public Account at the RBA each night.
No results
Your search for agency banking did not return any results. Please ensure that you:
- are not using any advanced search operators like + - | " etc.
- expect this document to exist within the rba-web collection
- have permission to see any documents that may match your query