I am pleased to announce the appointment of Mr John Poynton to the Payments System

Board (PSB) as an independent member for the term of five years. Mr Poynton is currently

Chairman of Poynton and Partners Group, a management consulting and corporate advisory

firm and has previously served as a Director of the Australian Stock Exchange and Chairman

of the stockbroking firm Hartley Poynton.

The PSB was established on 1 July 1998 as a Board of the Reserve Bank of Australia. The

Board determines the RBA’s payments system policy and is responsible for regulating

payments systems and promoting payments efficiency and competition.

The Reserve Bank Act 1959 provides for up to eight members of the PSB including

the Governor of the Reserve Bank of Australia (RBA), and one other RBA representative, one

representative from the Australian Prudential Regulation Authority and up to five

independent members.

The current membership of the PSB consists of:

• Mr Ian Macfarlane, Chairman
• Dr John Laker, Deputy Chairman
• Mr Graeme Thompson, APRA representative
• Mr Joseph Gersh
• Ms Susan McCarthy
• Mr John Thom
• Mr John Poynton

CANBERRA

26 May 2000