Currency and deposits (TALC 51)
Currency and deposits (TALC 51) is further classified into:
- cash and deposits (TALC 511); and
- Special Drawing Rights (SDRs) (TALC 512).
Cash and deposits (TALC 511)
Cash and deposits (TALC 511) consists of:
- cash in the form of notes and coins that are of fixed nominal values and are issued or authorised by the central bank or government; and
- deposits which refers to all claims on the deposit taking corporations (including the central bank) and in some cases, general government or other institutional units.
Includes: Notes and coins on hand; cheques held but not yet deposited; cash and deposits in both Australian currency and foreign currency; deposits placed in the short-term money market such as grants received from the Commonwealth and deposited overnight; units issued by cash management trusts; withdrawable share capital of building societies; claims on the IMF that are components of international reserves and are not evidenced by loans; repayable margin payments in cash related to financial derivative contracts; unallocated accounts for precious metals (including gold); sight deposits that permit immediate cash withdrawals but not direct third-party transfers; savings and fixed-term deposits; overnight and very short-term repurchase agreements that are included in the national measures of broad money; foreign currency deposits that are blocked because of the rationing of foreign exchange as a matter of national policy.
Excludes: Claims on the IMF that are evidenced by loans (classified to advances other than concessional loans (TALC 533)).
Special Drawing Rights (SDRs) (TALC 512)
Special Drawing Rights (SDRs) (TALC 512) consists of international reserve assets created by the International Monetary Fund (IMF) and allocated to its members to supplement reserve assets. The allocation of SDRs is a liability of the member country and interest accrues on this liability. SDR holdings represent each holder’s unconditional right to obtain foreign exchange or other reserve assets from other IMF members.