Dealing Room Current Operational Notices

The RBA Monetary Policy Board has endorsed the establishment of Term Repo Operations (TROs) to complement the RBA’s existing standard liquidity facilities. TROs are expected to start in 2027, with further legal and operational details to be published in advance. For further information see Term Repo Operations.

---

As per the RBA’s announcement on 25 August 2026, open standing facility (SF) repos will be discontinued in early 2027 (see Speech by David Jacobs, Head of Domestic Markets – The Road to Ample – Towards a Demand-driven Liquidity Regime for more information). The effective date will be announced in the coming months. On the effective date, all open repo limits will be reduced to zero and any outstanding open repo SF positions will be closed.

Until then, existing open SF repo limits remain in place. However, with immediate effect, the RBA will no longer accept requests to increase these limits.

For RITS members that settle after-hours transactions across their own Exchange Settlement Account (ESA) via the Fast Settlement Service (for New Payments Platform payments) or the Low Value Settlement Service (for direct entry obligations), the RBA will continue to apply minimum ES balance requirements for this purpose. The next regular review of the size of these requirements will occur in the coming months, with the new recommended ES balance requirements to take effect on the effective date when open repo is discontinued.