Media Release Technology Outage

The Reserve Bank experienced a system issue yesterday evening, which impacted the Fast Settlement Service (FSS) and the Low Value Clearing and Settlement Services (LVCS and LVSS).

An error occurred during a planned change to the software that manages the Reserve Bank’s virtual servers, which disrupted a number of production servers. As a result, the Reserve Bank Information & Transfer System (RITS) was unable to send or receive LVCS or LVSS files between 19:01 on 12 October and 00:34 on 13 October.

In addition, the settlement notifications that are normally sent to New Payments Platform participants by the FSS immediately following settlement of those transactions were either delayed or not sent between 19:21 and 23:47. These services are now restored and are processing at full capacity. The RBA is working with the banks to clear the backlog of payments.

Michele Bullock, Deputy Governor of the Reserve Bank, said, ‘We sincerely apologise to industry participants and customers for the inconvenience and disruption caused. It was disappointing that this occurred and we recognise the impact this would have on people relying on the payments system. I want to assure people that the Bank takes the stability of the payments infrastructure very seriously and will double its effort to ensure this does not happen again.’