Question:

What is payment system policy of Reserve Bank of Australia?

by Guest7830  |  12 years, 7 month(s) ago

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Can someone tell me that what is payment system policy of Reserve Bank of Australia? If someone knows about it please let me know.

 Tags: Australia, bank, payment, policy, Reserve, System

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  1. Guest8286
    The Reserve Bank Act 1959 allows the Payments System Board to decide the Reserve Bank's payment systems policy. This is done so it can command risk and to aid in competitiveness and balance in the financial system. 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.

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