Reserve Bank of Australia Annual Report – 1999 Financial Statements Note 12 – Special Redundancy/Retirement Payments

The Bank's expenses in 1998/99 include $18.4 million paid or payable to, or on behalf of, staff who accepted special redundancy/retirement offers. Corresponding payments in 1997/98 totalled $29.7 million. Staff leaving the Bank in 1998/99 under these arrangements numbered 155 (249 in 1997/98).