Governors and their roles Reserve Bank of Australia

h. c. coombs governor have headed both commonwealth bank , reserve bank of australia

the governor of reserve bank of australia senior position in reserve bank of australia. governor of commonwealth bank of reserve bank of australia both ex officio member of notes board 1920 1924 , of 8 directors of commonwealth bank 1924 1945. commonwealth bank , bank acts in 1945 stated governor s responsibilities of managing bank. in 1951, legislation established 10-member board governor member of. bank has maintained similar structure ever since 1951 legislation.

the governor required reserve bank act 1959 keep in contact secretary on matters concerning both treasury , reserve bank , vice versa. mandated board inform government of bank s monetary , banking policy, accomplished through governor s meetings treasurer. since 1996, governor , other senior members of bank have appeared twice annually before house of representatives standing committee on economics explain conduct of bank. reserve bank governor appointed term of 7 years treasurer , eligible reappointed @ end of term. governor chairman of both payment systems board , reserve bank board , therefore resolves disputes occur between 2 entities.

the longest-serving governor, if service both commonwealth bank , reserve bank of australia included, h.c. coombs, served nineteen years , 6 months combined. regarded 1 of committed anti-inflationists in government throughout 1950s , 1960s. longest-serving commonwealth bank governor sir ernest riddle, served eleven years , 4 months, while longest-serving reserve bank governor ian macfarlane, served ten years. shortest-serving governor many years james kell, served 2 years commonwealth bank.

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governors