The Payments System Board's responsibilities and powers are set out in separate Acts: Reserve Bank Act 1959; Payment Systems (Regulation) Act 1998; Payment Systems and Netting Act 1998; and Part 7.3 of the Corporations Act 2001. The Payments System Board governs the payments system policy of the Reserve Bank of Australia. The membership of the Payments System Board is specified in section 25A of the Reserve Bank Act 1959: the Governor of the RBA (Chair of the Payments System Board); one representative of the RBA (who is appointed by the Governor and who must be either a member of the Reserve Bank Board or a member of the RBA service; Deputy Chair of the Payments System Board); one representative of the Australian Prudential Regulation Authority - APRA (who is appointed by APRA and who must be either an APRA member or an APRA staff member); and up to five other members (who are appointed by the Treasurer for a term of up to five years).

Further information

  • Type of Body

    E. Statutory Office Holder Offices and Committees

  • Established By / Under

    Act / Regulation

  • Established By/Under More info

    Reserve Bank Act 1959

  • Paid Members?


  • Max No. of Board/Committee Members


  • Annual Report Prepared and tabled?


  • Classification

    B. Secondary

  • Function Categorization

    Regulatory / Review / Inquiry / Commission

  • Creation Date

    2 July 1998

Current board appointments

Position Appointee Start Date End Date
Chair Dr. Philip Lowe 18 September 2016 17 September 2023
Deputy Chair Dr Dr. Malcolm Edey 14 April 2009 1 January 2099
Member Mrs. Catherine WALTERS AM 3 September 2017 2 September 2022
Member Ms. Gina Cass-Gottlieb 15 July 2013 14 July 2018
Member Mr. Paul Costello 15 July 2013 14 July 2018
Member Mr. Wayne Byres 1 July 2014 30 June 2019
Member Mr. Brian Wilson AO 15 November 2015 14 November 2020
Member Prof. Deborah Ralston 15 December 2016 14 December 2021
Last updated: