Reserve Bank of Australia Annual Report – 1987 Financial Statements Events Occurring After Balance Date

Note 10 Events Occurring After Balance Date

Following a determination by the Board that there was a surplus of $120 million in the capital and reserves of the Rural Credits Department, the Treasurer directed that these funds be apportioned $60 million to the Reserve Bank Reserve Fund and $60 million to the Commonwealth. The transfers were made in August 1987 from the Department's reserves. Note 3 to the Accounts should be read in conjunction with this note.

R.A. Johnston
Chairman, Reserve Bank Board — 5 August 1987