Reserve Bank of Australia Annual Report 2011

ppm
20
15
10
5
0
04/05
Source: RBA
Counterfeits Detected
Parts per million genuine banknotes
Annual
06/07
08/09
10/11
public about banknotes and counterfeit detection.
It also highlights the dangers posed by modern
reproduction technologies to the integrity of
banknotes in circulation.
The Reserve Bank works closely with other central
banks and the security printing industry to gain
a better understanding of the threat posed by
emerging reproduction technologies available to
counterfeiters, and to develop new security features.
As part of its efforts to combat counterfeiting,
the Reserve Bank is involved in the Central Bank
Counterfeit Deterrence Group (a group of 32 central
banks that investigates counterfeiting threats and
develops strategic solutions) and the Reproduction
Research Centre (an anti-counterfeiting laboratory
operated by a small number of central banks). In the
assessment of new technologies for banknote security and the development of innovative features, the Bank
also collaborates with a number of private companies, research institutions and universities.
Numismatic Banknote Sales
The Reserve Bank conducted a numismatic banknote sale in July and August 2011 for all denominations of
banknotes produced in 2010. These banknotes were sold to the public at fixed prices during a six-week sale
period.
Note Printing Australia
Quarterly
(annualised)
20
15
10
5
0
D J D J
09/10 10/11
ppm
Note Printing Australia Limited (NPA) is a wholly owned subsidiary of the Reserve Bank that produces banknotes
and operates the NNPDC on behalf of the Bank. NPA operates under a charter established by the Reserve Bank
Board. Specifically, NPA’s prime function is the efficient and cost-effective production of Australian banknotes
of high quality and security, in accordance with the specifications and requirements of the Bank. The charter
also permits NPA to undertake other ‘non-core’ activities, including the development and production of
passports for the Department of Foreign Affairs and Trade (DFAT), and other security products as well as
the production of banknotes for other issuing authorities. In recent years, these activities have included the
production of banknotes for some countries in the Asia-Pacific region.
NPA is governed by a Board of Directors appointed by the Reserve Bank. As at 30 June 2011, the Board comprised
five Bank executives: Michele Bullock, Assistant Governor (Currency) as Chair; Keith Hall, Assistant Governor
(Banking and Payments); Darryl Ross, Chief Financial Officer; Lindsay Boulton, Head of Banking Department;
and Michelle McPhee, Head of Risk Management. The Chief Executive Officer of NPA is Bernhard Imbach.
In 2010/11, NPA produced 148 million banknotes for Australia and 320 million banknotes for a number of other
countries, including Brunei, Chile, Papua New Guinea and Vanuatu. NPA also produced 2.7 million passports
for DFAT over the year.
NPA earned a profit after tax of $4.4 million in 2010/11, compared with a profit of $4.3 million in 2009/10. The
financial accounts of NPA are consolidated with those of the Reserve Bank.
32 Reserve bank of Australia