It is my pleasure to be speaking here at the ASIC Forum. The Reserve Bank of Australia has a number of roles in the payments system. It operates the real-time gross settlement system for high-value payments, it provides banking and payment services to government clients, and it oversees and regulates the payments system. It is in the capacity of overseer that I am talking to you today. The Payments System Board of the Reserve Bank has a mandate to promote efficiency and competition in the Australian payments system, as well as stability of the system. The Reserve Bank oversees the system to determine how best to ... (full story)