Payments System Board Annual Report 2026
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Contents
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The Payments System Board (the Board) has responsibility for the RBA’s payments system policy, including policy on clearing and settlement facilities.
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The RBA undertakes regulatory and policy work on payment systems and on the infrastructure that supports the safety, efficiency and competitiveness of the Australian payments system. During 2025/26, the Payments System Board focused on strengthening the resilience of systemically important and prominent payment systems, progressing reforms in the card payments market, overseeing industry efforts to modernise account-to-account payments, supporting work to reinforce access to cash, and examining how innovation in digital money could support the future evolution of the payments system.
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The RBA supervises and oversees licensed clearing and settlement facilities (CS facilities) to ensure they conduct their affairs in a way that is consistent with financial system stability. Over the past year, the RBA completed and published assessments of the ASX CS facilities and LCH Ltd’s SwapClear service, with a focus on governance, operational resilience and financial risk management. The RBA also published guidance for the use of its crisis resolution powers over domestic CS facilities and continued work to operationalise reforms to the regulatory framework for financial market infrastructures.
ISSN 1448-532X (Online)