Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I thank the member for Melbourne for his question, because I do acknowledge there is strong community interest in ensuring that all of our public institutions meet the highest standards. The government does take these matters very seriously, but so too does the Reserve Bank. The RBA has responded to the matters that have been raised on 7.30 on Tuesday night and they have rejected the central implications of that report on 7.30. This is what the RBA has had to say:

On any reasonable reading, the NPA Board at that time sought the appropriate information, sought appropriate advice, responded appropriately to the information it received, and reasonably relied on the advice it received.

The RBA also stands by its previous statements to the House Economics Committee in respect of both NPA and Securency.

I am confident that Governor Stevens has handled these matters with complete integrity. The RBA has taken steps over the past few years to tighten controls and to strengthen governance. As the member would be aware, many of these matters are still before the courts. The RBA is fully cooperating with the Commonwealth Director of Public Prosecutions as part of these proceedings. Given that that court consideration is still ongoing, it is obviously inappropriate for me or the government to comment any further.

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