The Albanese government is poised to salvage its proposed structural shake-up of the Reserve Bank of Australia, amid a frenzy of Senate horse-trading in the last week of parliament to clear a logjam of stalled policies.

Two months after effectively declaring the RBA reform push was dead, the government was in discussions with the Greens on Wednesday as part of the broader push to ram through parliament as many measures as possible using what is known as a guillotine motion.