Which of the following statements is not the responsibility of the RBA?

Question

BlackTom AI · Accepted Answer

The question asks which statement is not the responsibility of the Reserve Bank of Australia (RBA).
Option a: Overseeing the payments system. The RBA does have a key role in ensuring the safety and efficiency of the payments system, including arrangements and oversight to promote stability. This aligns with the RBA’s responsibilities, so this option describes a duty that the RBA does perform.
Option b: Licensing Authorised Deposit-taking Institutions. Licensing ADIs is primarily a function of the Australian Prudential Regulation Authority (APRA). The RBA does not license ADIs, so this statement accurately identifies something outside the RBA’s remit. This makes it a candidate for the correct answer as not being an RBA responsibility.
Option c: Maintaining the stability of the Australian financial system. Achieving financial stability is a central objective of the RBA, including policies and analyses aimed at reducing systemic risk. This option reflects a core responsibility of the RBA.
Option d: Determining and implementing the monetary policy. Setting and implementing monetary policy is a principal function of the RBA, including decisions on the cash rate and communications about future guidance. This is squarely within the RBA’s duties.
In summary, option a describes a plausible RBA function (payments system oversight), option c describes a core RBA objective (financial stability), and option d describes a fundamental RBA role (monetary policy). Option b, licensing ADIs, falls under APRA rather than the RBA, making it the statement that is not the RBA’s responsibility.

Which of the following statements is not the responsibility of the RBA?Single choice

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