Which of the following statements is not the responsibility of the RBA?

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Question: Which of the following statements is not the responsibility of the RBA?

Option a: 'Determining and implementing the monetary policy' — The RBA is primarily responsible for monetary policy in Australia, including setting policies to achieve targets such as inflation and employment. This statement describes a core function of the RBA, so it is a responsibility.

Option b: 'Licensing Authorised Deposit-taking Institutions' — Licensing ADIs is not a function of the Reserve Bank of Australia. In Australia, the licensing and prudential supervision of ADIs (like banks and credit unions) is carried out by APRA (Australian Prudential Regulation Authority). The RBA does not issue licenses to ADIs. This is the item that does not belong to the RBA’s responsibilities.

Option c: 'Maintaining the stability of the Australian financial system' — Ensuring financial system stability is a central objective of the RBA, including overseeing systemic risks and acting as a lender of last resort in certain circumstances. This is clearly a responsibility of the RBA.

Option d: 'Overseeing the payments system' — The RBA is involved in the design and operation of the payments system and has roles in maintaining the integrity and efficiency of payments. This is also a responsibility of the RBA.

Summary: Options a, c, and d describe responsibilities of the RBA, while option b describes a function handled by APRA, not the RBA. The question asks for the statement that is not the RBA’s responsibility, which corresponds to option b.

MCD2170 - T3 - 2025 Pre-class Quiz Week 9

Which of the following statements is not the responsibility of the RBA?

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MCD2170 - T3 - 2025 Pre-class Quiz Week 9

Which of the following statements is not the responsibility of the RBA?

View Explanation

Log in for full answers

Similar Questions

The chair of the Federal Open Market Committee is

The Federal Reserve System is a(n)

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Part 1The primary reason for the creation of the Federal Reserve System LOADING... ​was:Part 2 A. to create a single central bank similar to the Bank of England. B. to reduce or eliminate future bank panics. C. to eliminate​ state-chartered banks. D. to stabilize​ short-term interest rates.

Under the European System of Central Banks, the Governing Council is similar in structure to the ________ of the Federal Reserve System.

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Part 1The primary reason for the creation of the Federal Reserve System LOADING... was:Part 2 A. to create a single central bank similar to the Bank of England. B. to reduce or eliminate future bank panics. C. to eliminate state-chartered banks. D. to stabilize short-term interest rates.