Reserve Bank of Australia Annual Report – 2001 Financial Statements Note 12 – Remuneration of Executives

The number of executives whose remuneration packages, measured in terms of costs to the RBA, fell within the following bands was:

Remuneration band	Number 2001	Number 2000
$100,000 – $109,999	1	2
$110,000 – $119,999	6	8
$120,000 – $129,999	7	11
$130,000 – $139,999	15	15
$140,000 – $149,999	11	5
$150,000 – $159,999	4	8
$160,000 – $169,999	4	4
$170,000 – $179,999	4	4
$180,000 – $189,999	7
$200,000 – $209,999	1
$210,000 – $219,999		8
$220,000 – $229,999	2
$230,000 – $239,999	5	1
$240,000 – $249,999	1
$250,000 – $259,999	1
$260,000 – $269,999		5
$290,000 – $299,999	4
$310,000 – $319,999		1
$320,000 – $329,999	1
$470,000 – $479,999		1
$480,000 – $489,999	1

Total remuneration received or due and receivable by these 75 executives amounted to $12.913 million (73 executives totalling $11.933 million in 1999/2000). Remuneration includes cash salary, the RBA's contribution to superannuation, housing assistance, motor vehicles, car parking and health insurance and the fringe benefits tax paid or payable on these benefits. Remuneration excludes amounts paid to executives posted outside Australia for the whole or part of the financial year. Remuneration includes amounts paid to executives who are also members of the Bank Board (refer Note 14).

This table has been expanded to include all members of the Reserve Bank's senior management group. A major reason for this change is that the RBA's senior managers are now employed on similar contractual terms to the executives included in the comparable table in previous Annual Reports. Comparative figures for 1999/2000 have been adjusted accordingly.

Termination payments of $1.113 million were made to executives who left the Bank during 2000/01 ($0.346 million in 1999/2000); these payments are not reflected in the above table.