Who manages the Australian Governments money?
The Reserve Bank of Australia (RBA) provides specialised banking services to the Australian Government. A facility is provided to the Australian Government that is used to manage a group of bank accounts, known as the Official Public Account (OPA) Group, the aggregate balance of which represents the Government’s daily cash position. Information on the role and function of the RBA in managing the Government’s money can be found at www.rba.gov.au. The Australian Office of Financial Management (AOFM) is responsible for the management of the Government’s cash balance. Information on the role and functions of the AOFM can be found at www.aofm.gov.au.
