Search: Exchange Settlement Account

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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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Appendix: Changes to Bank Regulations

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
The requirement of one month's notice of withdrawal on savings bank investment account was removed. ... 1983. December. –. The Australian dollar was floated, and most foreign exchange controls were removed.
https://www.rba.gov.au/publications/rdp/1989/8904/appendix.html

Removal of Interest Rate Controls and the Shift to Liability Management

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
Fixed deposits and CDs began to account for an increasing share of deposits. ... LGS assets which earnt no interest, such as notes and coin and exchange settlement funds, were always kept to a minimum.
https://www.rba.gov.au/publications/rdp/1989/8904/removal-of-interest-rate-controls-and-the-shift-to-liability-management.html