rba4-local.rba.gov.au/speeches/2020/sp-dg-2020-06-30.html  14/18  30/06/2020  The Reserve Bank's Policy Actions and Balance Sheet | Speeches | RBA  Graph 10  Banker for the Australian Government Let me briefly talk about one other factor that has a major influence on the RBA's balance sheet, namely Government transactions.
As banker for the Australian Government, the Government's transactions in the form of spending, taxation and debt raisings all settle across the RBA's balance sheet. For example, when the Government issues a bond to investors, it deposits the money raised from the investors in its account with the RBA. This removes funds from the system.