Reserve Bank of Australia Annual Report – 1998 Financial Statements Note 10 – Special redundancy/retirement payments

The Bank's expenses in 1997/98 include $29.7 million paid or payable to, or on behalf of, staff who accepted special redundancy/retirement offers. Corresponding payments in 1996/97 totalled $12.9 million. Staff leaving the Bank in 1997/98 under these arrangements numbered 249 (195 in 1996/97).