Joint APRA-RBA Statement on Use of the RBA’s Overnight Standing Facility

Media release number 2025-11: The Reserve Bank of Australia’s (RBA) new approach to monetary policy implementation – the ‘ample reserves with full allotment’ system – allows eligible counterparties to borrow as many reserves as they demand at open market operations (OMO). The RBA has recently announced some important updates to the operation of this system for monetary policy implementation, including the configuration of its OMO and the role of the overnight standing facility.