Australian government plans to increase Reserve Fund to 15%

The Australian government is set to add a one-off A$8.8 billion grant in order to improve the financial position of the country's central bank having its Reserve Fund currently standing at 3.8%, the nation's Treasurer Joe Hockey said on Wednesday. The country's government is planning to inject A$8.8 billion into the Reserve Bank Reserve Fund to increase the level to 15% of the bank's assets at risk.