Search: Close-out netting
RBA Glossary definition for Close-out netting
Close-out netting – An arrangement to settle all contracted but not yet due liabilities to, and claims on, an institution by a single payment, immediately upon the occurrence of one of a list of defined events such as the appointment of a liquidator to that institution.
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Payments System Board Annual Report 2016 - Supervision of Clearing and Settlement Facilities
12 Oct 2016
PSB Annual Report
2016
PDF
592KB
https://www.rba.gov.au/publications/annual-reports/psb/2016/pdf/supervision-of-clearing-and-settlement-facilities.pdf
Submission to the Financial System Inquiry March 2014
10 Nov 2017
Submissions
PDF
3041KB
Financial System Inquiry
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/pdf/financial-system-inquiry-2014-03.pdf
Other Regulatory Responsibilities
25 Oct 2010
PSB Annual Report
– 2010
BPAY operates a payment system for bill payments which involves a multilateral netting arrangement. ... Given this, and having regard to the criteria for approvals set out in the Payment Systems and Netting Act, the Payments System Board approved BPAY's
https://www.rba.gov.au/publications/annual-reports/psb/2010/reg-response.html
Ongoing Regulatory Responsibilities
13 Sep 2007
PSB Annual Report
– 2007
This arrangement also allows more robust risk controls to be placed on participants and provides additional scope for netting of obligations. ... set out in the Payment Systems and Netting Act, the Board agreed that approval of the multilateral netting
https://www.rba.gov.au/publications/annual-reports/psb/2007/reg-response.html
Safety and Stability
21 Mar 2002
PSB Annual Report
– 2001
Netting transactions I and II, Bank A has sold $A50 and bought US$25. ... Report of the Committee on Interbank Netting Schemes (the Lamfalussy Report), published by the BIS in 1990.
https://www.rba.gov.au/publications/annual-reports/psb/2001/safety-stability.html
Safety and Stability
1 Oct 2000
PSB Annual Report
– 2000
The second minimum standard (V) is designed to ensure that multilateral netting systems can withstand the failure of the largest participant. ... Both uncertainties were addressed by the passage of the. Payment Systems and Netting Act 1998.
https://www.rba.gov.au/publications/annual-reports/psb/2000/safety-stability.html
The Board's First Year
1 Oct 1999
PSB Annual Report
– 1999
Such a cycle would bring Australia close to world's best practice in this area. ... for their RTGS systems in fall-back mode, where they would operate as netting systems.
https://www.rba.gov.au/publications/annual-reports/psb/1999/first-year.html
The Australian Securities and Investments Commission's Review of the EFT Code of Conduct – April 2006 | Responses and Options Paper
8 May 2024
Submissions
In addition to reducing the costs of duplication, consolidation of central counterparty and securities settlement activities would permit netting of obligations that would not be possible for participants operating in the ... This additional netting
https://www.rba.gov.au/publications/submissions/payments-system/proposed-asx-sfe-merger/index.html
Reforms to the Payment Systems (Regulation) Act 1998 Submission to Senate Economics Legislation Committee – February 2024 | Payments System …
23 Feb 2024
Submissions
The payments system mandate, powers and responsibilities of the RBA and the PSB are mainly set out in the Payment Systems (Regulation) Act 1998 (PSRA). ... Reserve Bank Act 1959. ;. Payment Systems and Netting Act 1998. ;
https://www.rba.gov.au/publications/submissions/payments-system/reforms-to-the-psra/index.html
Payments System Board Annual Report 2010 - Other Regulatory Responsibilities
25 Oct 2010
PSB Annual Report
2010
PDF
247KB
https://www.rba.gov.au/publications/annual-reports/psb/2010/pdf/reg-response.pdf