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RBA Glossary definition for RTGS

RTGS – Real-time gross settlement. A payment system in which processing and settlement take place in real time (continuously).

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Appendix A: Sub-limits and Bilateral Offsetting

31 Dec 2012 RDP 2012-06
Robert Arculus, Jennifer Hancock and Greg Moran
Priority. Priority. Submission time to RITS. Note: In the pure RTGS system design with unlimited liquidity all payments are submitted to the simulator at the time they were settled in RITS
https://www.rba.gov.au/publications/rdp/2012/2012-06/appendix-a.html

References

31 Dec 2012 RDP 2012-06
Robert Arculus, Jennifer Hancock and Greg Moran
Financial Stability Review. , December, pp 63–72. Jackson JP and MJ Manning (2007), ‘Central Bank Intraday Collateral Policy and Implications for Tiering in RTGS Payment Systems’, De Nederlandsche Bank Working Paper
https://www.rba.gov.au/publications/rdp/2012/2012-06/references.html

Weighing the Benefits and Costs of Tiering

31 Dec 2012 RDP 2012-06
Robert Arculus, Jennifer Hancock and Greg Moran
Moreover, account should also be taken of the potential second-round effects of the default of the settlement bank's clients or the clients' inability to access the RTGS system, which
https://www.rba.gov.au/publications/rdp/2012/2012-06/weighing-benefits-cost-tiering.html