Reserve Bank of Australia Annual Report – 2020 Financial Statements Note 10 – Other Liabilities
| Note | 2020 $M |
2019 $M |
|
|---|---|---|---|
| Provisions | |||
| Provision for annual and other leave | 25 | 22 | |
| Provision for long service leave | 50 | 49 | |
| Provision for post-employment benefits | 100 | 108 | |
| Other | 9 | 9 | |
| 184 | 188 | ||
| Other | |||
| Securities sold under agreements to repurchase | 1(b) | 22 | 350 |
| Payable for unsettled purchases of securities | 1(b) | 579 | 1,084 |
| Cash payable for gold loaned under gold swaps | 1(b) | 884 | – |
| Foreign currency swap liabilities | 1(b) | 90 | 592 |
| Interest accrued on deposits | 1(b) | 12 | 47 |
| Superannuation liability | 1(j), 14 | 247 | 177 |
| Other | 111 | 95 | |
| 1,945 | 2,345 | ||
| Total Other Liabilities as at 30 June | 2,129 | 2,533 | |
The RBA's provision for its post-employment benefits was $7.8 million lower in 2019/20, largely due to a decline in the assumed growth rate for the cost of providing these benefits in future periods. Benefits of $4.7 million were paid out of the provision for post-employment benefits in 2019/20. 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 costs of providing benefits, or discount rates vary.
Other provisions include amounts for legal matters, redundancies and workers compensation.
Other liabilities include contract liabilities of $32.1 million relating to unearned revenue from the provision of the CLF (Note 1(m)) and $22.8 million in lease liabilities. Interest on lease liabilities was $0.3 million in 2019/20.