NO.081

APPOINTMENT OF MRS CATHERINE WALTER AM AS PART-TIME MEMBER,

PAYMENTS SYSTEM BOARD OF THE RESERVE BANK OF AUSTRALIA

I am pleased to announce the appointment of Mrs Catherine Walter as a part-time member of the Payments System Board (PSB) for a five-year period commencing 3 September 2007.

Mrs Walter has participated in a range of government inquiries and councils in the areas of corporate governance, regulation, arts funding and international legal services and also has a governing role in a range of bodies including state-owned enterprises, statutory corporations, university and local government councils and professional partnerships.  She has 20 years legal experience as a financial services and corporate solicitor, and has a wide experience across many industry sectors including banking, insurance, funds management, health services, medical research, education, telecommunications and resources.

The PSB was established on 1 July 1998 as a Board of the Reserve Bank of Australia (RBA).  The Board determines the RBA’s payments system policy and is responsible for the stability of, and competition and efficiency within, the payments system.

The Reserve Bank Act 1959 provides for up to eight members of the PSB including the Governor of the RBA and one other RBA representative, one representative from the Australian Prudential Regulation Authority and up to five independent members.   

I take this opportunity to congratulate Mrs Walter on her appointment.

Contact: Renae Stoikos – 03 9650 0244