BIS Review 171/2010  5  The RBA participated in the swap line to help distribute US dollars into this time zone (the Bank of Japan’s participation served a similar purpose). 5 It did not reflect any issue with the Australian banking system’s own need for US dollars.
Second, the Fund should adopt the idea of setting out an annual work program for surveillance. Each year, the members, along with the Managing Director and staff, would update and specify – in concrete and transparent terms – the objectives and priorities of surveillance for that year.