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RESERVE BANK of AUSTRALIA ANNUAL REPORT 2015 | INDEPENDENT AUDITOR’S REPORT 161 162 RESERVE BANK of AUSTRALIA Part 5: Indexes
RESERVE BANK OF AUSTRALIA 2015 ANNUAL REPORT ANNUAL REPORT 2015 | CONTACT DETAILS 171 Reserve Bank of Australia Annual Report 2015 Contents Governor’s Foreword 1 Part 1: About the Reserve Bank Our Charter, Core Functions and Values 5 Governance of the Reserve Bank 7 Reserve Bank Board 12 Accountability and Communication 20 Organisation Structure 28 Part 2: Our Operations in 2014/15 Operations in Financial Markets 37 Banking and Payment Services 47 Banknotes 53 International Financial Cooperation 62 Community Engagement 73 Part 3: Management and Accountability Our People 85 Management of the Reserve Bank 90 Risk Management 96 Earnings and Distribution 104 Pro Forma Business Accounts 109 Statutory Reporting Requirements 110 Part 4: Financial Statements Statement of Assurance 117 Financial Statements 118 Notes to the Financial Statements 123 Independent Auditor’s Report 160 Part 5: Indexes Statutory Reporting Requirements Index 165 List of Tables 167 List of Graphs 168 Abbreviations 169 Contact Details 171 This report is available electronically in PDF and HTML formats on the Reserve Bank’s website: www.rba.gov.au/publications/annual-reports/rba/index.html. The Reserve Bank welcomes comments on this report. Feedback and enquiries about any aspects of this report may be directed to: Information Department Reserve Bank of Australia 65 Martin Place Sydney NSW 2000 GPO Box 3947 Sydney NSW 2001 Telephone: +61 2 9551 9830 Facsimile: +61 2 9551 8033 Email: [email protected] © Reserve Bank of Australia 2015. All rights reserved. The contents of this publication shall not be reproduced, sold or distributed without the written prior consent of the Reserve Bank of Australia. -
Managing Gender: the 2010 Federal Election
21. Managing Gender: The 2010 federal election Marian Sawer1 The 2010 federal election was the first in Australian history in which a woman prime minister was campaigning for the re-election of her government. Paradoxically, her party had no women’s policy—or at least did not launch one publicly. Despite the avoidance of any policy focus on gender issues, gender was a significant undercurrent in the election, as reflected in consistent gender gaps in public opinion and voting intentions. Unusually, the management of gender turned out to be more of a problem for a male than for a female leader. Gender Gaps and Gendered Coverage Gender was expected to feature prominently in the 2010 campaign given the contest between Julia Gillard as Australia’s first woman prime minister and Tony Abbott, a hyper-masculine Opposition leader and ironman triathlete. Abbott’s persona was that of an ‘action man’ always ready to don lycra and a helmet for some strenuous sporting activity; the Coalition campaign slogan was ‘Real action’. Abbott was also known for telling women how to live their lives, criticising them for taking ‘the easy way out’ by having abortions and blocking the importation of abortion drug RU486 while he was Health Minister. While the Abbott action-man persona might have been useful in a contest with Kevin Rudd, who was to be framed as ‘all talk and no action’, it was less useful in a contest with Julia Gillard. It required various forms of softening, particularly through referencing of the women in his life, but also through less-aggressive presentation and promises not to tinker with access to abortion. -
The Australian Democrats Andrew Bartlett*
Australian Cultural History Vol. 27, No.2, October 2009, 187-193 The Australian Democrats Andrew Bartlett* The Australian Democrats had maintained a presence in the Senate since 1977, but the 2007 election threatened to end their representation for good. Their efforts to retain seats proved to be in vain. Keywords: 2007 election; Australian Democrats; Senate Following on from the 2004 election, where the Australian Democrats lost four seats (including the Democrat seat Meg Lees had taken with her when she resigned from the party in 2002), plus official parliamentary status and balance of power in the Senate, the Party faced a very difficult task in the 2007 election trying to keep its four remaining Senate seats. Right throughout John Howard's fourth term, opinion polls showed public support for the Democrats consistently scraping along rock bottom levels of 1 or 2 per cent, as they had ever since the Lees resignation and the related public implosion of Natasha Stott Despoja's leadership in 2002. Even though the removal of the Democrats from the balance of power after the 2004 poll led directly to the Coalition government gaining control of the Senate, where it frequently used its majority to stifle scrutiny and bulldoze through some controversial legislation, the Democrats were unable to use this situation to build public support for returning the Party to its traditional Senate watchdog position. The Party had avoided going into debt in its 2004 campaign, so there were sufficient funds to run a basic campaign in priority areas for the 2007 election. However, serious use of paid advertising was not feasible. -
The Evolution of Banking in Australia
Software and Technology The evolution of banking in Australia By Amaran Navaratnam* For most Young Credit Professionals car park during Christmas week, as we of Australia (YCPA) our first can shop online. banking experience started with a As our debit and credit cards Commonwealth Bank Dollarmite evolve so do the payment methods. savings account, we were excited Over the last 5 years PayPass and about the moneybox rather than PayWave have made us wave the saving aspect. As we matured goodbye to signing for retail into adolescents so did the banking purchases. In years to come I am experience. sure we will soon be farewelling the In years to come we will all have PIN. Our cards will always revisit the a story to tell our children of when surgeon for a ‘nip and tuck’ to keep we had to wait in line at the branch up with customers evolving needs in a “In years to come for 20 minutes patiently watching card with added benefits and tighter the flip clock. The reaction will be security. we will all have a priceless given what their first banking We have all experienced the gut story to tell our experience will be. wrenching feeling of leaving our wallet Technology and innovation was or purse at home and only realising children of when revolutionary in the late 2000’s half way to work. In 2015 Westpac driving us to the ‘Mobile Commerce’ and Commonwealth bank successfully we had to wait in generation with the ability to pay bills, launched its ‘Cardless Cash’ service do our internet banking and open new enabling us to use our mobile banking line at the branch accounts simply with the use of our app to withdraw money. -
Reclink Annual Report 2017-18
, Annual Report 2017-18 Partners Our Mission Respond. Rebuild. Reconnect. We seek to give all participants the power of purpose. About Reclink Australia Reclink Australia is a not-for-profit organisation whose aim is to enhance the lives of people experiencing disadvantage or facing significant barriers to participation, through providing new and unique sports, specialist recreation and arts programs, and pathways to employment opportunities. We target some of the community’s most vulnerable and isolated people; at risk youth, those experiencing mental illness, people with a disability, the homeless, people tackling alcohol and other drug issues and social and economic hardship. As part of our unique hub and spoke network model, Reclink Australia has facilitated cooperative partnerships with a membership of more than 290 community, government and private organisations. Our member agencies are committed to encouraging our target population group, under-represented in mainstream sport and recreational programs, to take that step towards improved health and self-esteem, and use Reclink Australia’s activities as a means of engagement for hard to reach population groups. Contents Our Mission 3 State Reports 11 About Reclink Australia 3 AAA Play 20 Why We Exist 4 Reclink India 22 What We Do 5 Art Therapy 23 Delivering Evidence-based Programs 6 Events, Fundraising and Volunteers 24 Transformational Links, Training Our Activities 32 and Education 7 Our Members 34 Corporate Governance 7 Gratitude 36 Founder’s Message 8 Our National Footprint 38 Improving Lives and Reducing Crime 9 Reclink Australia Staff 39 Community Partners 10 Contact Us 39 Notice of 2017 Annual General Meeting The Annual General Meeting for Members 1. -
An Empirical Study of International Correspondent Banking in Australia
University of Wollongong Thesis Collections University of Wollongong Thesis Collection University of Wollongong Year 2001 An empirical study of international correspondent banking in Australia Soon-Lim Chan University of Wollongong Chan, Soon-Lim, An empirical study of international correspondent banking in Aus- tralia, Doctor of Philosophy thesis, Department of Marketing, University of Wollongong, 2001. http://ro.uow.edu.au/theses/1476 This paper is posted at Research Online. Chapter Six i06 CHAPTER SIX: CASE STUDY: CORRRESPONDENT BANKING IN COMMONWEALTH BANK OF AUSTRALIA (CBA) 6.0 INTRODUCTION This is the first component of the three components'core research. This case study is based on rigorous interviews with a group of CBA's senior bank staff including Gavin E J Forte, General Manager, CBA's Institutional Banking; Stephan Symydzuk, Senior Manager, CBA's Technology and Operations; Robert Buchan, Senior Manager, CBA's Risk Management; Keith McDougalI, Senior Manager, Global Payment Services; Paul McMartin, Assistant Manager Exports, International Trade Processing Centre; and Roland Condell, Manager, CBA's Business Banking Centre, Toowoomba. The case is presented in two parts. The first part (section 6.1) sets out CBA's background, history and development, the organisational sfructure, in particular the institutional banking, rationalisation and current development and performance of CBA. The second part is concenfrated on the study of CBA's correspondent banking in section 6.2. CBA's defmition and management of corbanking will be discussed in paragraph 6.2.1, the organisation of CBA's corbanking in paragraph 6.2.2, the purchasmg management of intemational corbanking services and reasons for using corbanking in paragraph 6.2.3, selection criteria of CBA's correspondents and thefr classification corbanking relationships in paragraph 6.2.4, risk management in sub-section 6.2.5, relationships management in paragraph 6.2.6, strategies of development of CBA's corbanking business in paragraph 6.2.7, ftiture of CBA's corbanking in paragraph 6.2.8. -
6 Ridge St, North Sydney, NSW 2060 P. +61 2 8458 1300 | E
6 Ridge St, North Sydney, NSW 2060 p. +61 2 8458 1300 | e. [email protected] rmkcrew.com.au DEREK PASCOE TVC Southern Phones (Kim Reddin Prod ) (1 x 30 TVC / 1 x 15 TVC) (DOP) The Athletes Foot (PJL Productions) (DOP) Sydney Three Day Event 2015 Promo (Equestrian Australia) (DOP) “Upfronts” Seven Network (Seven Network Operations) (Lighting Camera) Elgas LPG Bushfire Safety PSA (The Media Collective) (DOP) I FLY Christmas Promotions X 2 (The Media Collective) (DOP) Apollo Medical Institute TVC x 3 (Hart Media) (DOP) B Seen L Plates TVC (Kim Reddin Productions) (DOP) The Athletes Foot (never met a foot campaign x 2) (PJL) (DOP) Ezyfixclip (Kim Reddin Productions) (DOP) Roof Handles (Kim Reddin Productions) (DOP) Tripa-drip (Nim Nat/KR Productions) (DOP) Ausbuy PSA “Buy Australian” campaign (KR Productions) (DOP) Sydney Three Day Event (EFA) (Producer/Editor) Documentary Hard Jobs Down-under (Janus Films/Kabel Ein) (dir: Uli Schmidt) DOP The Last Diggers (NSWFTO/Albatross/SBS) (dir: Kim Reddin) DOP Outback Survival (Gallileo/Pro Seiben/Go Films) (dir: Uli Schmidt) DOP “Shark Fin Soup” (Wild Aid/ CCTV) (dir: Peter Knights) DOP (Australian Locations) Wanderlust Empire (Wanderlust Empire Ltd) (dir: Wetham Allpress) (Pickups- Australia) Film / Drama Whatever Happened to Harold Smith (West 11 Films) (dir: Peter Hewitt) Additional Camera 2nd unit The Screaming Silent (Albedo Films/Cut Out Films) (dir: Dave Davison) 2nd unit DOP/Additional Photography Reality / Lifestyle TV Galileo “Honey from the Tap” (Pro Seiben) (2015) (feature german science -
Evidence Given by Andrew John Bartlett and Anthony James Pink
UNCLASSIFIED Copy 1 of 1 CRIME AND CORRUPTION COMMISSION TRANSCRIPT OF INVESTIGATIVE HEARING 10 CONDUCTED AT LEVEL 2, NORTH TOWER, 515 ST PAULS TERRACE, FORTITUDE VALLEY WITH RESPECT TO File No: CO-16-1664 HEARING NO: 17/0001 DAY 7 – FRIDAY 28 APRIL 2017 (DURATION: 45MINS) 20 Copies of this transcript must not be made or distributed except in accordance with any order made by the presiding officer concerning publication of these proceedings. LEGEND PO Presiding Officer – ALAN MACSPORRAN QC CA Counsel Assisting – GLEN RICE QC 30 HRO Hearing Room Orderly – MELISSA LETONDEUR W1 Witness – ANDREW BARTLETT W2 Witness – ANTHONY PINK LR Legal Representative – N/A EVIDENCE GIVEN BY A BARTLETT/A PINK Page 1 of 16 Transcriber: TH/KR (DTI) File No. CO-16-1664 UNCLASSIFIED UNCLASSIFIED Copy 1 of 1 HRO This hearing is resumed. PO Yes, Mr RICE. CA Commissioner, it is proposed to call representatives of the Queensland Greens. In this instance, there are actually two, Mr Andrew BARTLETT and Mr Anthony PINK. They wish, as I understand it, to give their evidence together. I call those two gentlemen. 10 PO Thank you. CA Mr BARTLETT is on your right, Mr Commissioner. PO Mr BARTLETT and Mr PINK, do either of you have an objection to taking an oath on the Bible? W2 I might. Sorry. 20 PO An affirmation? W2 An affirmation will be fine. PO All right. I will have Mr Bartlett sworn in, and I will have you affirm through the Orderly, thanks. W2 I solemnly affirm and declare that the evidence given by me in these proceedings shall be the truth, the whole truth, and nothing but the truth. -
Deregulation, Entry of Foreign Banks and Bank Efficiency in Australia
DEREGULATION, ENTRY OF FOREIGN BANKS AND BANK EFFICIENCY IN AUSTRALIA JAN-EGBERT STURM BARRY WILLIAMS CESIFO WORKING PAPER NO. 816 CATEGORY 9: INDUSTRIAL ORGANISATION DECEMBER 2002 An electronic version of the paper may be downloaded • from the SSRN website: www.SSRN.com • from the CESifo website: www.CESifo.de CESifo Working Paper No. 816 DEREGULATION, ENTRY OF FOREIGN BANKS AND BANK EFFICIENCY IN AUSTRALIA Abstract This study considers the efficiency of banking in Australia during the post- deregulation period 1988-2001. Since 1986 restrictions upon foreign bank entry and foreign ownership have been affectively abolished. Using Data Envelopment Analysis (DEA) and Malmquist Indices, we find that the new foreign banks are more (input) efficient than domestic banks, mainly due to their superior scale efficiency. However, this superior efficiency did not necessarily result in superior profits. Our results are consistent with the limited global advantage hypothesis of Berger et al (2000). We argue that the major Australian banks have used size as a barrier to entry to the new entrants in the post-deregulation period. Furthermore, bank efficiency seems to have increased post-deregulation and the competition resulting from diversity in bank types was important to prompt improvements in efficiency. Finally, the recession of the early 1990s resulted in a distinct shift in the process of efficiency changes. Keywords: foreign banks, deregulation, data envelopment analysis, Malmquist indices. JEL Classification: G21, G28. Jan-Egbert Sturm Barry Williams CESifo (University of Munich & Ifo School of Business Institute for Economic Research) Bond University Poschingerstraße 5 Gold Coast 81679 Munich Queensland 4229 Germany Australia [email protected] [email protected] 1. -
Contributors
Contributors Andrew Bartlett was a Queenland Senator with the Australian Democrats for over 10 years, being Parliamentary Leader from 2002–04, as well as holding many other positions within the party. On the Democrats’ demise, he joined the Greens, standing as a candidate twice. He is currently the Convenor of the Queensland Greens. Clive Bean is a professor of Political Science and Director of Undergraduate Studies at the Queensland University of Technology. He is a director of the Australian Election Study, which has surveyed the Australian electorate each election year since 1987. Peter John Chen is a senior lecturer in Government and International Relations at the University of Sydney. He is the author of Australian Politics in a Digital Age (2013) and Electronic Engagement: A Guide for Public Managers (2007). Brian Costar is a professor at Swinburne University’s Institute for Social Research and specialises in Australian politics and elections and parliamentary studies. He has co-authored a number of publications on the rise of independents including Rebels with a Cause: Independents in Australian Politics (2004). Jennifer Curtin is an associate professor in Comparative Politics and Public Policy at the University of Auckland. Previously, she taught Politics and Policy at Monash University and the University of Canberra and held a postdoctoral position at The Australian National University. Her research has focused on the representation of women in formal political institutions and policy making environments, and rural and regional representation, and the rise of independents, in Australian and New Zealand politics. Nick Economou is a senior lecturer in the School of Political and Social Inquiry, Monash University. -
The Hon. Bill Heffernan
Your Candidate for Senate Preselection THE HON. BILL HEFFERNAN HOLLIE IS THE ONLY CANDIDATE THAT I HAVE EVER KNOWN THROUGHOUT MY LONG TIME IN THE LIBERAL PARTY THAT HAS WON A PRESELECTION, THE PREVIOUS SENATE PRESELECTION, WHERE SHE WAS SELECTED TO LEAD THE TICKET, AND STOOD ASIDE AT THE REQUEST OF THE THEN PRIME MINISTER. SHE STEPPED ASIDE AND CONTINUED TO CAMPAIGN AND FUNDRAISE FROM POSITION 6 ON THE TICKET. AS FORMER STATE MINISTER TED PICKERING SAID TO ME IN MY FIRST PRESELECTION BALLOT AGAINST SENATOR JOHN TIERNEY, WHICH HE WON, “SON, TO RUN FOR THE SENATE, YOU HAVE TO HAVE SERVED YOUR TIME IN THE PARTY”. HOLLIE HAS WELL AND TRULY SERVED HER TIME… About Hollie Hollie Hughes is a long-time resident and community advocate for regional NSW having spent most of the past twenty years living in the country. Until recently, Hollie and her family have been living and working in Moree, in far North West NSW. Hollie understands first-hand the impact of drought, limited social and health services and the needs of our regional communities. Hollie first moved to the country more than two decades ago to study at Charles Sturt University in Bathurst. Majoring in Broadcast Journalism and later completing a Masters of Politics and Public Policy from Macquarie University, Hollie embarked on a successful career in communications, Government affairs and consultancy. For the past two years she has worked as the Head of Government for Executive Search firm Salt & Shein. Throughout her career, Hollie has worked to create better outcomes for her clients. -
History of the Australian Gene Patent Bill
The Patenting of Biological Materials: A brief history of a concerted attempt to bring this practice to an end in Australia. Luigi Palombi Introduction In 2008 four Australian patents granted to Myriad Genetics were used by Genetic Technologies, a Melbourne company that had patented junk DNA and was also Myriad’s exclusive licensee, to try and do in Australia what Myriad had done in the United States - to monopolize the genetic testing for the human BRCA gene mutations linked to breast and ovarian cancers. With the patent ‘rights’ to these gene mutations, found on human genes BRCA 1 (located on human chromosome 17q) and BRCA 2 (located on human chromosome 13), Genetic Technologies could legally exclude anyone from making, using, selling or dealing with these gene mutations for any purpose for 20 years. On July 7 the company sent a letter to every Australian laboratory known to be providing BRCA gene testing to Australian patients. The letter, signed by its president, Michael B Obanessian, gave each of them 7 days to cease “using the Patents” and “refer the performance of all BRCA 1 and BRCA 2 testing” to the company or be sued for patent infringement. Mr Obanessian stressed the urgency of the threat: “Our lawyers have prepared a detailed Statement of Claim and are ready to file an Application with the Federal Court if necessary.” I am very pleased to advise that it never became necessary. What Mr Obanessian and Genetic Technologies hadn’t realized was that this letter, far from being a “warning shot fired across the bow”, as one patent attorney was to later describe it to a Senate Committee charged with investigating the impact of gene patents on the Australian healthcare system, lit a fuse - a fuse which is slowly sizzling towards its ultimate goal - the obliteration of patents over naturally occurring biological materials in Australia.