Reserve Bank of Australia Annual Report – 1999 Financial Statements Note 2 – Net Profits

Note 1999 $M 1998 $M
Interest revenue
Overseas investments 1(c) 963 1,121
Domestic government securities 1(d) 1,199 1,106
Loans and advances   5 4
Overnight settlement systems   19 9
Gold loans   18 21
  2,204 2,261
Net gains/(losses) on securities
Overseas investments   (106) 105
Domestic government securities   (276) 64
Foreign currency 1(c) (108) 2,484
  (490) 2,653
Dividend revenue
Earnings on shares in Bank for International Settlements 6 3 3
Fees and commissions
Banking services fees received   21 22
Other revenue
Reimbursement by Commonwealth for loan management and registry expenses   2 2
Rental of Bank premises   7 7
Sales of numismatic and other note products   14 21
Gain on sale of plant and equipment   1 1
Australian notes on issue write-off 1(i) 19 –
Other   13 21
  56 52
Total   1,794 4,991
Less:
Interest expense
Deposit liabilities   181 248
Repurchase agreements 1(e) 116 124
  297 372
General administrative expenses
Staff costs   87 102
Special redundancy/retirement payments 12 18 30
Depreciation of property 7 7 7
Depreciation of plant and equipment 7 7 7
Premises and equipment   24 25
Materials used in note production   10 13
Travel   2 2
Consultants' fees 14 1 2
Other   5 5
  161 193
Other expenses
Maintenance of Value payment to International Monetary Fund   – 15
Agency business reimbursement   1 1
Other   9 7
  10 23
Total   468 588
Net Profit   1,326 4,403