RBA ESA Policy Archives - Pearl Financial

Tag Archives for " RBA ESA Policy "

Dec 18

RBA Made Changes For Their ESA Policy

By Editorial Team | News

What Is ESA (Exchange Settlement Account)?

ESA is an account that all banks should have for the purpose of making payments with each other within the Australian payments system. These Exchange Settlement Accounts are owned by the Reserve Bank of Australia, there must be positive balances and are used to settle debts that have accumulated in the clearing process.

They are also used as a precautionary measure, as the RBA has committed to cover any gaps in payments among the members, this is to ensure the Australian payments system functions all the time.

Continue reading
>