Reserve Bank of Australia Annual Report 2011

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As at 30 June 2011 One $M Level Two $M Three $M Total $M Assets at fair value through Profit or Loss Domestic government securities 4 927 3 587 – 8 514 Foreign government securities 22 370 2 477 – 24 847 Foreign currency swap gains – 5 – 5 Available for sale Shares in international and other institutions – – 302 302 27 297 6 069 302 33 668 Liabilities at fair value through Profit or Loss Foreign currency swap losses – 1 – 1 – 1 – 1 As at 30 June 2010 Assets at fair value through Profit or Loss Domestic government securities 4 077 1 091 – 5 168 Foreign government securities 28 966 3 903 – 32 869 Foreign currency swap gains – 34 – 34 Available for sale Shares in international and other institutions – – 328 328 33 043 5 028 328 38 399 Liabilities at fair value through Profit or Loss Foreign currency swap losses – 7 – 7 – 7 – 7 Note 16 – Subsequent Events On 1 July 2011, charges were laid against Note Printing Australia Limited, a wholly owned subsidiary of the RBA, and Securency International Pty Ltd, in which the RBA holds a 50 per cent share. The charges, in summary, allege that between 1999 and 2003 the two companies and a number of individuals engaged in conspiracy to bribe foreign officials in Indonesia and Malaysia. In August 2011, a further two charges were laid against Securency for similar alleged conduct relating to Vietnam in the period between 2001 and 2004. A number of former employees of the companies, including two former chief executives, were also charged. The Australian Federal Police stated on 1 July 2011 that the charges against the companies are a result of alleged actions of former senior managers of the companies. In terms of AASB 137 – Provisions, Contingent Liabilities and Contingent Assets, the Bank has set aside certain provisions for the possible financial impact of the charges against NPA and Securency, based on information available at the time of preparing these accounts. Specific information relating to the charges and their financial consequences have not been disclosed in these accounts as the matters have not yet been finalised and are before the courts. 106 Reserve bank of Australia
The Bank’s foreign exchange holdings are invested mainly in securities issued by the governments of the United States, Germany, France, the Netherlands, Japan and Canada (see Note 15). In August 2011, Standard & Poor’s lowered the long-term sovereign credit rating of the United States Government and related agencies’ debt obligations from AAA to AA+. The value of these securities amounted to around 19 per cent of the Bank’s foreign exchange holdings as at 30 June 2011. However, based on information currently available the credit downgrade has not had a material impact on the Bank’s financial position. There have been no other events since 30 June 2011 relevant to the financial statements. Annual report 2011 | notes to the financial statements 107
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RESERVE BANK OF AUSTRALIA ANNUAL RE
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© Reserve Bank of Australia 2011.
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The banking and payments group cont
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4 Reserve bank of Australia
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Audit Committee The objectives of t
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Roger Corbett AO Member since 2 Dec
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Committee’s questioning of the Ba
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The Reserve Bank hosts regular conf
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Reserve Bank Balance Sheet $ billio
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Days 120 100 80 60 40 20 0 Australi
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sovereign debt crisis in Europe and
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M 250 200 150 100 50 by other users
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about 10 per cent less than in 2007
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% Value of Banknotes on Issue Per c
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ppm 20 15 10 5 0 04/05 Source: RBA
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countries), the main international
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appropriate fee; the committed amou
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Economic activity in most EMEAP eco
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Staff in the State Offices also pla
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The Reserve Bank continued to provi
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No 50 40 30 20 10 counterfeit exami
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expected to reduce energy and water
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4 3 2 1 0 and Securency Internation
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Page 62 and 63: lost. The centrepiece of these arra
Page 64 and 65: The Reserve Bank follows commercial
Page 66 and 67: 62 Reserve bank of Australia Underl
Page 68 and 69: The Reserve Bank is committed to th
Page 70 and 71: 66 Reserve bank of Australia
Page 74 and 75: Balance Sheet - As at 30 June 2011
Page 76 and 77: Statement of Distribution - For the
Page 78 and 79: Cash Flow Statement - For the year
Page 80 and 81: Notes to and Forming Part of the Fi
Page 82 and 83: Interest on fixed coupon securities
Page 84 and 85: Sell repurchase agreements Securiti
Page 86 and 87: Balances of asset revaluation reser
Page 88 and 89: Note 2 - Net Profits Interest reven
Page 90 and 91: Note 4 - Interest Revenue and Inter
Page 92 and 93: Note 6 - Cash and Cash Equivalents
Page 94 and 95: Note 10 - Other Liabilities Provisi
Page 96 and 97: As at 30 June 2011 and 30 June 2010
Page 98 and 99: Accounting Valuation For financial
Page 100 and 101: Note 14 - Superannuation Funds (Con
Page 102 and 103: Market Risk Market risk is the risk
Page 104 and 105: Credit Risk Credit risk is the pote
Page 106 and 107: Liquidity Risk Liquidity risk is th
Page 108 and 109: Maturity Analysis - As at 30 June 2
Page 112 and 113: Auditor-General for Australia Austr
Page 116 and 117: Organisational Chart August 2011 Re
Page 118 and 119: Banking and Payments Group Assistan
Page 120: Glossary ACC Asian Consultative Cou
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Reserve Bank of Australia Annual Report 2011

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