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

Question

BlackTom AI · Accepted Answer

The question asks which statement is not the responsibility of the Reserve Bank of Australia (RBA).
Option a: Overseeing the payments system. The RBA does have a key role in ensuring the safety and efficiency of the payments system, including arrangements and oversight to promote stability. This aligns with the RBA’s responsibilities, so this option describes a duty that the RBA does perform.
Option b: Licensing Authorised Deposit-taking Institutions. Licensing ADIs is primarily a function of the Australian Prudential Regulation Authority (APRA). The RBA does not license ADIs, so this statement accurately identifies something outside the RBA’s remit. This makes it a candidate for the correct answer as not being an RBA responsibility.
Option c: Maintaining the stability of the Australian financial system. Achieving financial stability is a central objective of the RBA, including policies and analyses aimed at reducing systemic risk. This option reflects a core responsibility of the RBA.
Option d: Determining and implementing the monetary policy. Setting and implementing monetary policy is a principal function of the RBA, including decisions on the cash rate and communications about future guidance. This is squarely within the RBA’s duties.
In summary, option a describes a plausible RBA function (payments system oversight), option c describes a core RBA objective (financial stability), and option d describes a fundamental RBA role (monetary policy). Option b, licensing ADIs, falls under APRA rather than the RBA, making it the statement that is not the RBA’s responsibility.

MCD2170 - T2 - 2025 Pre-class Quiz Week 9

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

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