Assessments of RITS
Self-assessment of RITS
The Reserve Bank periodically conducts self-assessments of RITS against the relevant international principles. The most recent self-assessment, completed in 2009, concluded that RITS met all of the Core Principles and that the Reserve Bank met the responsibilities of central banks in applying the Core Principles. Self-assessments conducted in 2005 and 2009 are available below. An earlier self-assessment, conducted in 2000, is summarised in the Annual Report of the Payments System Board for that year.
IMF FSAP Assessment of RITS
In December 2005, the International Monetary Fund (IMF) assessed RITS against the Core Principles as part of its Financial Sector Assessment Program (FSAP) assessment of Australia. The assessment found RITS to be a sound and efficient system that complies with all the applicable Core Principles. The assessment also found that the Reserve Bank fulfils its responsibilities in applying the Core Principles. The IMF published its detailed assessment of RITS in November 2006. The assessment can be found starting on page 129 of the document Australia: Financial Sector Assessment Program – Detailed Assessment of Observance of Standards and Codes on the IMF website.
