Reserve Bank of Australia Annual Report 2011
Reserve Bank of Australia Annual Report 2011
Reserve Bank of Australia Annual Report 2011
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As at 30 June <strong>2011</strong><br />
One<br />
$M<br />
Level<br />
Two<br />
$M<br />
Three<br />
$M<br />
Total<br />
$M<br />
Assets at fair value through Pr<strong>of</strong>it or Loss<br />
Domestic government securities 4 927 3 587 – 8 514<br />
Foreign government securities 22 370 2 477 – 24 847<br />
Foreign currency swap gains – 5 – 5<br />
Available for sale<br />
Shares in international and other institutions – – 302 302<br />
27 297 6 069 302 33 668<br />
Liabilities at fair value through Pr<strong>of</strong>it or Loss<br />
Foreign currency swap losses – 1 – 1<br />
– 1 – 1<br />
As at 30 June 2010<br />
Assets at fair value through Pr<strong>of</strong>it or Loss<br />
Domestic government securities 4 077 1 091 – 5 168<br />
Foreign government securities 28 966 3 903 – 32 869<br />
Foreign currency swap gains – 34 – 34<br />
Available for sale<br />
Shares in international and other institutions – – 328 328<br />
33 043 5 028 328 38 399<br />
Liabilities at fair value through Pr<strong>of</strong>it or Loss<br />
Foreign currency swap losses – 7 – 7<br />
– 7 – 7<br />
Note 16 – Subsequent Events<br />
On 1 July <strong>2011</strong>, charges were laid against Note Printing <strong>Australia</strong> Limited, a wholly owned subsidiary <strong>of</strong> the<br />
RBA, and Securency International Pty Ltd, in which the RBA holds a 50 per cent share. The charges, in summary,<br />
allege that between 1999 and 2003 the two companies and a number <strong>of</strong> individuals engaged in conspiracy<br />
to bribe foreign <strong>of</strong>ficials in Indonesia and Malaysia. In August <strong>2011</strong>, a further two charges were laid against<br />
Securency for similar alleged conduct relating to Vietnam in the period between 2001 and 2004. A number <strong>of</strong><br />
former employees <strong>of</strong> the companies, including two former chief executives, were also charged. The <strong>Australia</strong>n<br />
Federal Police stated on 1 July <strong>2011</strong> that the charges against the companies are a result <strong>of</strong> alleged actions <strong>of</strong><br />
former senior managers <strong>of</strong> the companies. In terms <strong>of</strong> AASB 137 – Provisions, Contingent Liabilities and Contingent<br />
Assets, the <strong>Bank</strong> has set aside certain provisions for the possible financial impact <strong>of</strong> the charges against NPA<br />
and Securency, based on information available at the time <strong>of</strong> preparing these accounts. Specific information<br />
relating to the charges and their financial consequences have not been disclosed in these accounts as the<br />
matters have not yet been finalised and are before the courts.<br />
106 <strong>Reserve</strong> bank <strong>of</strong> <strong>Australia</strong>