Which of the following statements is NOT correct? An exchange settlement account (ESA)is:
A)an account held by deposit-taking institutions at the Reserve Bank of Australia (RBA).
B)used to transfer funds to and from in order to settle transactions in the payments system.
C)an account whose balance represents bank reserves.
D)the account used by the Commonwealth government for its spending and its income.

Question

Quizplus · Accepted Answer

The Commonwealth government's spending and income are managed through the Official Public Account, not an exchange settlement account.

Which of the Following Statements Is NOT Correct? an Exchange