The Australian Office of Financial Management (AOFM) is a specialist Australian Government agency primarily responsible for management of Australian Government debt. The AOFM was established on 1 July 1999 and is a prescribed agency under the Financial Management and Accountability Act 1997.
The AOFM's debt management activities encompass the issue of debt securities such as Treasury Bonds and Notes and the execution of debt related derivative transactions such as interest rate swaps. The AOFM's activities also include management of the Australian Government's cash balance, financial risk management and compliance activities, financial reporting and portfolio administration.
Over recent years, the AOFM's debt issuance activities have been directed towards maintaining efficient Treasury Bond and Treasury Bond futures markets rather than to meet Government budget funding requirements.
The AOFM is part of the Treasury portfolio. It is accountable to the Treasurer and through him to the Australian Government, the Parliament and the public. The Treasurer has provided operational delegations and authorisations to the Chief Executive Officer of the AOFM in relation to certain powers under a number of Acts of Parliament and associated regulations.
The AOFM administers the following legislation on behalf of the Treasurer:
