(24 June 2005 – Australia) The Australian government has approved a A$38 million business continuation centre for the country’s central bank to ensure it can keep functioning if it has to close its head office in Sydney’s Martin Place.The Public Works committee green lighted the funding after reading a report which recommended that the Reserve Bank of Australia build a site some 25 kilometres from its city centre HQ.
The new “robust” and “resilient” site is located at Baulkham Hills, set on 1.48 hectares of the Norwest Business Park.
The report said the bank had to continue operating in case an emergency shut down its main centre as the RBA provided banking services to the federal government and ran foreign exchange operations among other critical services.