Agency Banking - Overview
This web-site provides information on banking and cash management for Commonwealth agencies covered by the Financial Management and Accountability Act 1997 (FMA Act); that is Departments of State, Parliamentary Departments and prescribed agencies that are legally and financially part of 'the Commonwealth'. It is intended to be a source of information for these agencies on the legislative and policy framework governing the conduct of banking and to provide access to standard tools aimed at assisting market testing for banking and related services.
This site is also designed to provide information on the Commonwealth's banking arrangements that may be of benefit to Authorised Deposit-taking Institutions (ADIs) who currently provide, or have the potential to provide banking and related services to these agencies.
From 1 July 1999 the Government introduced new arrangements for banking and payment services for FMA Act agencies. The arrangements enable these agencies to establish banking service arrangements with the ADI(s) of their choice that best suit their needs in terms of cost and quality of service. This initiative was undertaken in the context of accrual budgeting arrangements introduced from the 1999-2000 Budget. It aims to encourage a more business-like approach to cash management and banking on the part of agencies and promote private sector competition in the delivery of the Commonwealth's banking services.
List of all FMA Act agencies
Contact for information on this page: email@example.com