Payments System Board Annual Report – 2019 Abbreviations

ABA Australian Bankers' Association
ACCC Australian Competition and Consumer Commission
ADI Authorised deposit-taking institution
AML/CTF Anti-money laundering/ counter terrorism financing
APC Australian Payments Council
API Application programming interface
APRA Australian Prudential Regulation Authority
ASIC Australian Securities and Investments Commission
AS-PSPs Account-servicing payment service providers
ASX Australian Securities Exchange
ASX Clear ASX Clear Pty Limited
ASX Clear (Futures) ASX Clear (Futures) Pty Limited
ASX Settlement ASX Settlement Pty Limited
ATM Automated teller machine
AUD Australian Dollar
AusPayNet Australian Payments Network
AUSTRAC Australian Transaction Reports and Analysis Centre
Austraclear Austraclear Limited
BETF Black Economy Taskforce
BNPL Buy now pay later
BOE Bank of England
CAC Act Commonwealth Authorities and Companies Act 1997
CBDC Central bank digital currency
CCP Central counterparty
CFR Council of Financial Regulators
Chi-X Chi-X Australia Pty Ltd
CMA Competition and Markets Authority (UK)
CME Chicago Mercantile Exchange Inc.
CNP Card-not-present
CLS CLS Bank International
CPMI Committee on Payments and Market Infrastructure
CPS Consumer Payments Survey
CP Card-present
CS Clearing and settlement
DCE Digital currency exchange
DLT Distributed ledger technology
DTA Digital Transformation Agency
EMEAP Executives' Meeting of East Asia-Pacific Central Banks
ePAL eftpos Payments Australia Limited
ESA Exchange settlement account
EU European Union
FCA Financial Conduct Authority (UK)
FEX FEX Global Pty Ltd
Fintech Financial technology
FMI Financial market infrastructure
FPS Faster Payments Service
FSS Fast Settlement Service
GST Goods and Services Tax
ICO Initial coin offering
IFR Interchange fee regulation
ISO International Organization for Standardization
IOSCO International Organisation of Securities Commissions
IoT Internet of things
IRD Interest rate derivatives
LCH Ltd LCH Limited
LCR Least-cost routing
LRMF Liquidity Risk Management Framework
LVSS Low Value Settlement Service
MAS Monetary Authority of Singapore
MOU Memorandum of Understanding
NFC Near field communication chips
NPP New Payments Platform
NPPA NPP Australia Limited
NZ BKBM IRS New Zealand bank bill benchmark interest rate swaps
NZD New Zealand Dollar
OG Oversight Group
OIS Overnight index swaps
OTC Over-the-counter
PEXA Property Exchange Australia Limited
PFMI Principles for Financial Market Infrastructure
PGPA Act Public Governance, Performance and Accountability Act 2013
PPS Protected Payments System
PSB Payment System Board
PSD2 Revised Directive on Payment Services (EU)
PSP Payment service providers
PSR Payment System Regulator (UK)
QR Quick Response
RBA Reserve Bank of Australia
RITS Reserve Bank Information and Transfer System
RPF Regulator Performance Framework
RTGS Real-time Gross Settlement
SCA Strong customer authentication
SEC Securities and Exchange Commission (US)
SEPA Singer Euro Payments Area
SIPS Systemically important payment system
SSF Securities settlement facility
SST Supervisory stress test
SWIFT Society for Worldwide Interbank Financial Telecommunication
TDIF Trusted Digital Identity Framework
TPP Third-party provider
WGPMI Working Group on Payments and Market Infrastructures