Search: Exchange Settlement Account

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1–2 of 2 collapsed search results for Exchange Settlement Account

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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Why did it Happen?

1 May 1998 RDP 9805
Morris Goldstein and John Hawkins
1997(e). 1998(f). Current account. 25. 41. 55. 27. 31. Private flows, net. ... However, these current account imbalances were widely viewed as benign (at the time) in two respects.
https://www.rba.gov.au/publications/rdp/1998/1998-05/why-did-it-happen.html

What Happened?

1 May 1998 RDP 9805
Morris Goldstein and John Hawkins
As with their exchange rates, the equity markets turned around in January 1998. ... There should be large movements in the current accounts of the affected economies.
https://www.rba.gov.au/publications/rdp/1998/1998-05/what-happened.html