The Reserve Bank reports an accounting loss of $4.2 billion

The Reserve Bank has posted an accounting loss of $4.2 billion in the recent financial year due to negative underlying earnings. The Central Bank, in its annual report, said its total liabilities were $20.4 billion at the end of the recent financial year. It is expected to remain in negative equity for several years. The remuneration report revealed Michele Bullock, who was appointed Governor in September 2023, was paid about $1.26 million during the year. Deputy Governor Andrew Hauser, who joined in February, earned about $356,000 - Philip Lowe, who was replaced as Governor in September, earned about $262,000.