Reserve Bank of Australia

Reserve Bank of Australia provides various banking services to the Australian Government, a range of government instrumentalities, and overseas official institutions and central banks. The company manages Australia's foreign reserves, issues Australian currency notes, and serves as banker to the Australian Government. It provides a facility to the Australian Government that is used to manage a group of bank accounts. The company's transactional banking services include bank account facilities; deposit and cheque processing services; processing and distribution of bulk electronic direct credit and direct debit transactions; overseas payment services by cheque, electronic funds transfer, or direct entry; various paper-based and electronic collection services; document printing services; and cheque reconciliation, repository, and verification services, including a system that can assist in the identification of cheque fraud. Its registry services comprise issuance of securities, transfer and registration of securities, maintenance of ownership records, and distribution of interest payments and redemption proceeds at maturity. The company also provides commonwealth government securities tender information on treasury note tenders, treasury bond tenders, treasury indexed bond tenders, and treasury bond conversion tenders; and commonwealth government bond facility for small investors. Reserve Bank of Australia was founded in 1959 and is headquartered in Sydney, Australia. The company has representative offices in London, the United Kingdom; and New York, New York. Reserve Bank of Australia is a subsidiary of Commonwealth Bank of Australia.