2013 Self-assessment of the Reserve Bank Information and Transfer System List of tables

Table 1: RITS Ratings and Actions
Standard Rating Actions
1. Legal basis Observed
 
 		 Conducting a comprehensive review of the RITS Regulations with the aim of identifying any areas in which the clarity of the RITS Regulations could usefully be improved.
2. Governance Observed  
3. Framework for the comprehensive management of risks Observed  
4. Credit risk Observed  
5. Collateral Observed  
6. Margin Not applicable  
7. Liquidity risk Observed  
8. Settlement finality Observed  
9. Money settlements Observed  
10. Physical deliveries Not applicable  
11. Central securities depositories Not applicable  
12. Exchange-of-value settlements Not applicable  
13. Participant default rules and procedures Observed  
14. Segregation and portability Not applicable  
15. General business risk Observed  
16. Custody and investment risks Observed  
17. Operational risk Observed
 
 
 
 
 		 Upgrading RITS's core infrastructure as part of the Bank's commitment to continuously improve the resilience of RITS.

Implementing further enhancements to network and system monitoring.

Continuing to monitor RITS participants' compliance with the new RITS participant Business Continuity Standards.
18. Access and participation requirements Observed  
19. Tiered participation arrangements Observed  
20. FMI links Not applicable  
21. Efficiency and effectiveness Observed  
22. Communication procedures and standards Observed  
23. Disclosure of rules, key policies and procedures, and market data Observed
 
 		 Reviewing RITS's public disclosures once CPSS and IOSCO finalise supplementary quantitative disclosure requirements for payment systems.
24. Disclosure of market data by trade repositories Not applicable  
Table 2: RITS Participation(a)
Number of ESAs As at end Oct 2013 Per cent of total value settled(b) Year to end Oct 2013
Major domestic banks 4 55.6
Foreign banks 39 35.7
Other domestic institutions 14 3.3
CS facilities and the Bank 4 5.4
Dormant accounts(C) 23 –
Total 84 100.0
(a) Excludes non-transactional RITS participants
(b) Outgoing payments
(c) Indirect RITS participants that maintain an ESA for contingency purposes
Table 3: RITS Availability
Per cent
Bank-operated systems Outsourced systems
2009 99.983 99.880
2010 99.993 99.844
2011 99.997 99.981
2012 99.948 99.818
2013(a) 100.000 99.914
(a) 1 January to 30 September 2013