NPA's prime function is the efficient and cost-effective production of high-quality and secure Australian banknotes, in accordance with specifications and requirements set by the Reserve Bank. Its primary purpose in carrying out this role is to maintain the capacity of Australian banknotes to provide a safe, secure and reliable means of payment and store of value. This includes sourcing high-quality employees as well as implementing policies and programs that cover employment conditions, reward, development, diversity and workplace health and safety. Chief Financial Officer: Robert Middleton-Jones International Department is responsible for the Reserve Bank's foreign exchange operations, the investment of international reserve holdings of gold and foreign exchange, and the provision of regular advice on developments in international financial markets to the Governors and the Reserve Bank Board. The Bank works with its wholly owned subsidiary, Note Printing Australia Limited (NPA), to design and produce banknotes. The bank's power through the Payment Systems Act 1998 allows it to regulate any payment system and can create binding rules for security and performance in the system. It facilitates public access to Bank records and archival material. Financial System Group. Meetings are held in two other Australian cities each year. The Bank also has an office in Beijing, which is responsible for monitoring Chinese economic and financial developments as well as maintaining relationships with government and private sector entities in China. Five members of the board must meet in order to constitute a quorum, and the meeting must be chaired by the governor, or the deputy governor in his absence.The board usually forms a consensus without a need for structured voting on the issues at hand. Staff in these offices hold regular discussions with individual firms and organisations in both the private and public sectors, and assist with communication to the wider community. Chief Representative in Europe: Michael Davies Results of this research are published in the Research Discussion Paper series. This website is best viewed with JavaScript enabled, interactive content that requires JavaScript will not be available. The Reserve Bank is managed by the Governor, Philip Lowe, and the Deputy Governor, Guy Debelle. These members include the three In addition, the board is composed of six external members who are appointed by the Treasurer for a period of five years. It consists of Economic Analysis Department and Economic Research Department. The department is also responsible for oversight of Australia's high-value payments, clearing and settlement facilities, and represents the Bank on the Committee on Payments and Market Infrastructures of the Bank for International Settlements. In addition, it organises a program of internal seminars, hosts a number of invited visitors each year and is responsible for administering a comprehensive library service for the Bank. The Head of Audit Department reports to the Deputy Governor and the Chair of the Reserve Bank Board Audit Committee. The matters were not reported to the It is currently governed by the Reserve Bank Act 1959, which was approved by Parliament. The materials on this webpage are subject to copyright and their use is subject to the terms and conditions set out in the It additionally formalised the bank's administrative powers of monetary and banking policy and exchange control and also stated the governor was responsible for managing the bank.Legislation in 1951, substituted the council by a 10-member board which included the governor, deputy governor and the secretary to the treasury.
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