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.
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Why did it Happen?
1 May 1998
RDP
9805
Thirdly, as part of the government's effort to promote Bangkok as a regional financial centre, the Bangkok International Banking Facility had been established in 1993, with a mandate (and special ... Finally, in two earlier banking crises, the government
https://www.rba.gov.au/publications/rdp/1998/1998-05/why-did-it-happen.html
What Happened?
1 May 1998
RDP
9805
In some cases, currency crises also spill over into (or are caused by) other asset markets, including banking, equity and bond markets. ... widespread corporate and banking failures, higher layoffs, and the generalised uncertainty and loss of confidence
https://www.rba.gov.au/publications/rdp/1998/1998-05/what-happened.html