RBA took narrow view of bribery investigations
The Reserve Bank of Australia told its law firm Freehills that RBA staff should co-operate with the Australian Federal Police in bribery inquiries "but not provide any more assistance than is necessary", police alleged in case notes divulged in a committal hearing at the Melbourne Magistrate's Court. The Financial Review reported on the hearing.The former chairman of the RBA's note-printing subsidiaries, Securency and Note Printing Australia, Bob Rankin (now the bank's chief representative for Europe) denied an assertion he was pressured to be cautious, made in an AFP file note of his police interview.Rankin told the court that despite his concern over high commission rates when he became chairman of the boards in 2008, he took comfort from a report from Austrade's Vietnam office saying rates of 12 to 33 per cent were in an acceptable range because of "payments to third parties".