The Reserve Bank of Australia, a government agency, came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank.

The Bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the Bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.

Both Boards consist of members of both the Bank, the Treasury, other Australian government agencies, and leaders of other institutions that are part of the economy. The structure of the Reserve Bank Board has remained consistent ever since 1951, with the exception of the change in the number of members of the Board. The Governor of the Reserve Bank of Australia is appointed by the Treasurer and chairs both the Payment Systems and Reserve Bank Boards and when there are disagreements between both Boards, the Governor resolves them.

The Bank of Australia robbery was the first bank robbery in Australia. On 14 September 1828 a gang of five robbers - William Blackstone, George Farrell, James Dingle, John Wilford alias Creighton and Valentine Rourke - tunnelled through a sewage drain into the vault of the Bank of Australia and stole some £14,000 in promissory notes and coins. The crime was discovered the following day. Although suspicions immediately fell on Blackstone, Farrell and Dingle, they escaped an indictment until Blackstone turned informer two years later. By then Creighton was dead and Rourke had left the country. Only Dingle and Farrell faced the Supreme Court of New South Wales on 10 June 1831. Both were found guilty but escaped the gallows because of convict attaint: that is, legal concerns as to whether Blackstone's evidence was admissible because of a previous death sentence.

Australia ( /əˈstreɪljə/), officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent as well as the island of Tasmania and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area. Neighbouring countries include Indonesia, East Timor and Papua New Guinea to the north; the Solomon Islands, Vanuatu and New Caledonia to the north-east; and New Zealand to the south-east.

For at least 40,000 years before European settlement in the late 18th century, Australia was inhabited by indigenous Australians, who belonged to one or more of roughly 250 language groups. After discovery by Dutch explorers in 1606, Australia's eastern half was claimed by Great Britain in 1770 and settled through penal transportation to the colony of New South Wales from 26 January 1788. The population grew steadily in subsequent decades; the continent was explored and an additional five self-governing Crown Colonies were established.

A central bank, reserve bank, or monetary authority is a public institution that manages a nation's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the nation's monetary base, and usually also prints the national currency, which usually serves as the nation's legal tender. Examples include the European Central Bank (ECB), the Federal Reserve of the United States, and the People's Bank of China.

The primary function of a central bank is to manage the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent commercial banks and other financial institutions from reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference.

John Pierpont Morgan (April 17, 1837 – March 31, 1913) was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. After financing the creation of the Federal Steel Company he merged in 1901 with the Carnegie Steel Company and several other steel and iron businesses, including Consolidated Steel and Wire Company owned by William Edenborn, to form the United States Steel Corporation.

Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont "Jack" Morgan, Jr., and bequeathing his mansion and large book collections to The Morgan Library & Museum in New York.

At the height of Morgan's career during the early 1900s, he and his partners had financial investments in many large corporations and were accused by critics of controlling the nation's high finance. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business. Morgan redefined conservatism in terms of financial prowess coupled with strong commitments to religion and high culture.