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1301.0 - Year Book Australia, 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002   
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Between 1940 and 1959, central banking business was the responsibility of the Commonwealth Bank. The Reserve Bank Act 1959 established the Reserve Bank of Australia as the central bank, and from 1959 to 1998 the Reserve Bank was responsible for the supervision of commercial banks. From 1 July 1998, the (APRA) assumed responsibility for bank supervision while the Reserve Bank retains responsibility for monetary policy and the maintenance of financial stability, including stability of the payments system.

Banks are the largest deposit-taking and financial institutions in Australia. At the end of June 2001 there were 50 banks operating in Australia. All are authorised to operate by the Banking Act 1959. Four major banks: the Australia and New Zealand Banking Group, National Australia Bank, Westpac Banking Corporation and the Commonwealth Bank of Australia, account for over half the total assets of all banks. These four banks provide widespread banking services and an extensive retail branch network throughout Australia. The remaining banks provide similar banking services through limited branch networks often located in particular regions. As at 30 June 2000, banks operated: 5,003 branches of which 2,838 were in metropolitan areas and 2,165 elsewhere; and 5,043 agencies of which 2,091 were in metropolitan areas and 2,952 elsewhere. As at 30 June 2001, banking services were provided at 2,821 giroPost locations and 11,915 Automatic Teller Machines (ATM) throughout Australia.

The liabilities and financial assets of the Reserve Bank are set out in table 26.3. The liabilities and financial assets of the banks operating in Australia are shown in table 26.4.


26.3 RESERVE BANK OF AUSTRALIA, Financial Assets and Liabilities
Amounts outstanding at 30 June

1999

$m
2000

$m
2001

$m

FINANCIAL ASSETS

Monetary gold and SDRs
1,101
1,374
1,564
Currency and deposits
10,896
9,969
12,020
One name paper
2,769
1,257
146
Bonds
30,719
36,858
43,957
Loans and placements
1,343
1,521
1,454
Other accounts receivable
129
125
137
Total financial assets(a)
46,957
51,104
59,278

LIABILITIES

Currency and deposits
33,762
31,019
29,883
Unlisted shares and other equity(b)
10,913
10,446
12,265
Other accounts payable
3,459
4,354
3,515
Total liabilities
48,134
45,819
45,663

(a) Excludes non-financial assets (e.g. fixed assets, property, inventories, etc.).
(b) Estimates based on net asset values.

Source: Australian National Accounts: Financial Accounts (5232.0).


26.4 BANKS(a), Financial Assets and Liabilities

Amounts outstanding at 30 June

1999

$m
2000

$m
2001

$m

FINANCIAL ASSETS

Currency and deposits
29,081
25,732
34,042
Acceptance of bills of exchange
69,736
75,825
78,469
One name paper
9,429
11,772
10,320
Bonds
21,600
22,299
24,455
Derivatives
19,645
25,475
31,503
Loans and placements
447,077
503,102
545,871
Equities
41,654
57,971
59,825
Prepayments of premiums and reserves
1,353
1,478
1,517
Other accounts receivable
342
222
90
Total financial assets(b)
639,917
723,876
786,092

LIABILITIES

Currency and deposits
318,424
337,403
379,721
Acceptance of bills of exchange
53,719
54,302
51,892
One name paper
88,181
101,209
106,333
Bonds
58,346
72,595
85,391
Derivatives
23,448
26,380
27,043
Loans and placements
20,532
34,904
34,354
Equity
106,515
132,903
168,498
Other accounts payable
6,180
1,023
1,690
Total liabilities
675,345
760,719
854,922

(a) Does not include the Reserve Bank of Australia.
(b) Excludes non-financial assets (e.g. fixed assets, property, inventories, etc.).

Source: Australian National Accounts: Financial Accounts (5232.0).


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