RBA to open emergency back-up office

The Reserve Bank of Australia is to get a $38 million back-up office complex in an outer Sydney suburb in case an emergency shuts its city head office.

A parliamentary committee has approved the project so the RBA's critical banking functions won't be disrupted.

The Public Works committee's report on the project, called the bank's "business resumption site", recommended that the purpose built complex at Baulkham Hills, about 25km from the Sydney CBD, go ahead.

The report said the bank, operating