Thursday 22 September 2016 04:16 PM
Reserve Bank to publish redacted submissions
By Edwin Mitson
Sept. 22 (BusinessDesk) - The Reserve Bank is to routinely publish submissions it receives to policy or industry consultations rather than condensing them into a summary.
However, the submissions will only be made public with the consent of the organisation or individual whose views are represented and who will be able to redact any information they do not wish to be released into the public domain.
In its policy document, the central bank said this will ensure "genuine commercially sensitive and prudential information" can be withheld.
In a statement, the Reserve Bank said the new policy would be implemented immediately and the change would "enhance the transparency of the policy-making process."
The Reserve Bank considered four options: the status quo of summarising the submissions received, the status quo with a periodical external review, publishing submissions where consent is granted and the submitter redacts the information, or publishing submissions where consent is granted and the Reserve Bank makes redactions.