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RBA Glossary definition for ES

ES – Exchange Settlement (account, balances or funds)

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The Australian Financial System

10 Sep 2010 FSR – September 2010
Settlement of RTGS transactions occurs across Exchange Settlement (ES) accounts held at the Reserve Bank. ... RITS daily peak liquidity – as measured by the sum of overnight ES balances and maximum intraday repurchase agreements with the Reserve Bank
https://www.rba.gov.au/publications/fsr/2010/sep/aus-fin-sys.html

The Australian Financial System

10 Sep 2009 FSR – September 2009
As this uncertainty has dissipated, the RBA has reduced the supply of Exchange Settlement (ES) balances, after these balances had been increased significantly to assist in the smooth functioning of markets. ... ES balances have averaged around $1 billion
https://www.rba.gov.au/publications/fsr/2009/sep/aus-fin-sys.html