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 RBA, so we evaluate each option in turn.
Option a: 'Overseeing the payments system' – This is within the typical remit of the central bank, as it helps ensure smooth, secure, and efficient settlement of payments. The RBA does engage in arrangements and oversight related to payment systems, so this statement aligns with RBA responsibilities.
Option b: 'Determining and implementing the monetary policy' – A core function of the RBA is setting and implementing monetary policy to achieve goals like price stability and sustainable growth. This option reflects a fundamental duty of the institution.
Option c: 'Licensing Authorised Deposit-taking Institutions' – Licensing ADIs (such as banks) is generally the role of a prudential regulator (in Australia, APRA, the Australian Prudential Regulation Authority). The RBA does not license ADIs, so this statement does not describe the RBA’s responsibilities.
Option d: 'Maintaining the stability of the Australian financial system' – The RBA plays a key role in contributing to financial stability, including through monetary policy, lender-of-last-resort facilities, and systemic risk monitoring. This option is consistent with RBA duties.
In summary, the statement that does not fit the RBA’s responsibilities is the one about licensing ADIs, since licensing is outside the RBA’s typical remit and handled by APRA.

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

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