Reserve Bank of Australia Annual Report – 1999 Financial Statements Note 13 – Remuneration of Executives

The number of executives whose remuneration packages, measured in terms of costs to the Bank, fell within the following bands was:

Remuneration band	Number 1999	Number 1998
$100,000 – $109,999		2
$110,000 – $119,999	1
$120,000 – $129,999	2	2
$130,000 – $139,999	6	8
$140,000 – $149,999	3	3
$150,000 – $159,999	4	4
$160,000 – $169,999		1
$170,000 – $179,999		2
$180,000 – $189,999	1	2
$190,000 – $199,999	2	4
$200,000 – $209,999	5
$220,000 – $229,999		2
$230,000 – $239,999	1	2
$240,000 – $249,999	3	1
$250,000 – $259,999	1

Total remuneration received or due and receivable by these executives amounted to $5.026 million ($5.422 million in 1997/98). Remuneration includes cash salary, the Bank's contribution to superannuation, housing assistance, motor vehicles and health insurance and the fringe benefits tax paid or payable on these benefits. Remuneration excludes amounts paid to executives posted outside Australia for the whole or part of the financial year. Remuneration excludes amounts paid to executives who are also members of the Bank Board (refer Note 15).

On 1 July 1998, 5 executives, who were included in the 1997/98 column, were transferred to the newly established Australian Prudential Regulation Authority and no remuneration or termination payments were payable by the Bank to these executives in 1998/99 ($0.722 million paid in 1997/98) and beyond.

During 1998/99 5 executives resigned or retired and received termination payments totalling $0.941 million ($0.055 million paid in 1998 for 2 executives) which are not reflected in the above table.