Thank you for the invitation to speak on the occasion of Australian Payments Clearing Association's (APCA) Annual General Meeting. The Reserve Bank and APCA have a long history of working constructively as they carry out their respective responsibilities in Australia's payments system. We both have an interest in ensuring a safe, efficient and competitive payments system that meets the needs of end-users. When I last addressed an APCA gathering in May 2012, we were at a particularly interesting juncture for the payments industry. The Bank was approaching the end of a two-year period of public discussion and ... (full story)