Transcript of Question & Answer Session Financial Innovation and the Future of CBDC in Australia

Just out of curiosity question, more than anything. Does anything around wholesale digital currency impact superannuation cash funds or the cash in superannuation funds?

No, not in a particularly obvious way. I mean, there would be a question—there is a, I guess, one point of connectivity would be, the access arrangements for wholesale central bank money. So, for instance, who could move into a wholesale CBDC right now. Our current system of exchange settlement balances, the current form of wholesale digital money we do have available is made available to principally banks and other select institutions that are primarily involved in the settlement of payments. So, we haven’t extended that more broadly. At some point in the future, there will have to be a discussion around access arrangements to wholesale CBDC; whether it would be made available more broadly, say, to corporations, possibly to other institutions that are not involved in clearing and settlement. That would have potentially quite profound implications if it was made more widely available. The RBA balance sheet potentially expands very dramatically. But at the moment, that’s not a principal area of focus.