Reserve Bank of Australia Annual Report – 2017 Financial Statements Note 10 – Other Liabilities
| Note | 2017 $M |
2016 $M |
|
|---|---|---|---|
| Provisions | |||
| Provision for annual and other leave | 21 | 19 | |
| Provision for long service leave | 44 | 43 | |
| Provision for post-employment benefits | 106 | 125 | |
| Other | – | 1 | |
| 171 | 188 | ||
| Other | |||
| Securities sold under agreements to repurchase | 1(b) | 1,580 | 4,526 |
| Payable for unsettled purchases of securities | 1,533 | 1,809 | |
| Foreign currency swap liabilities | 1(b), 15 | 1,150 | 1,861 |
| Interest accrued on deposits | 95 | 64 | |
| Superannuation liability | 1(i), 14 | 55 | 397 |
| Other | 87 | 91 | |
| 4,500 | 8,748 | ||
| Total Other Liabilities as at 30 June | 4,671 | 8,936 | |
The RBA's provision for its post-employment benefits was $18.9 million lower in 2016/17, largely due to an increase in the discount rate. Benefits of $4.6 million were paid out of the provision for post-employment benefits in 2016/17. The balance of the provision for post-employment benefits will change if assumptions about the length of staff service, the longevity of retired staff, future movements in medical costs or the discount rate vary.
Other provisions consist of $488,000 for workers compensation ($694,000 at 30 June 2016).