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RBA Glossary definition for systemic risk

systemic risk – The risk that the failure of one participant in a payments system, or in financial markets generally, to meet its required obligations when due will cause other participants or financial institutions to be unable to meet their obligations (including settlement obligations in a transfer system) when due. Such a failure may cause significant liquidity or credit problems and, as a result, might threaten the stability of financial markets.

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Central Clearing of Repos in Australia: A Consultation Paper

25 May 2015 Consultations PDF 389KB
Authorities should evaluate, with a view to mitigating systemic risks, the costs and benefits of proposals to introduce CCPs in their inter-dealer repo markets where CCPs do not exist. ... and the foreign exchange market.10 Based on this previous work,
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/pdf/201503-central-clearing-of-repos-in-australia.pdf

Key Policy Design Considerations | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
The Council agencies are of the view that any mandatory requirement to centrally clear products should take into account both the potential systemic risk reduction benefits of central clearing over bilateral ... This suggests that, in practice, the only
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/key-policy-design-considerations.html

Central Clearing of Repos in Australia: Conclusions

28 Oct 2015 Consultations PDF 306KB
Authorities should evaluate, with a view to mitigating systemic risks, the costs and benefits of proposals to introduce CCPs in their inter-dealer repo markets where CCPs do not exist. ... The Bank is responsible for ensuring that CCPs comply with the
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/conclusions/pdf/central-clearing-of-repos-in-australia-conclusions-2015-10.pdf

Key Features of Repo CCPs | Central Clearing of Repos in Australia: A Consultation Paper | Consultations

6 Mar 2015 Consultations
Based on this previous work, CCP clearing may be expected to contribute to reduced systemic risk and increased operational efficiency by:. ... This potentially lowers replacement cost risk relative to the non-centrally cleared alternative.
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/key-features-repo-ccp.html

Proposed Clearing Regime Design and Application | Central Clearing of OTC Derivatives in Australia June 2011 | Consultations

7 Jun 2011 Consultations
the potential reduction of systemic risk that might result from this move;. ... the potential contribution to systemic risk of these participants; and. harmonisation with international requirements.
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/proposed-clearing-regime-design.html

Options for Reform | Proposed Variation to the MasterCard and Visa Access Regimes: Consultation Document December 2013 | Consultations

6 Dec 2013 Consultations
As discussed, cardholders generally do not face risks from the MasterCard and Visa systems and risks within those systems are not of a magnitude to generate systemic risk. ... The proposed requirement for the schemes to have transparent risk-based
https://www.rba.gov.au/publications/consultations/20131206-prop-variations-to-mc-visa-access-regimes/options-reform.html

ISO 20022 Migration for the Australian Payments System – Issues Paper

7 Apr 2019 Consultations PDF 1644KB
A consultation paper issued by the Reserve Bank of Australia and the Australian Payments Council - April 2019
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/pdf/issues-paper.pdf

Proposed Variation to the MasterCard and Visa Access Regimes: Consultation Document - December 2013

6 Dec 2013 Consultations PDF 608KB
MasterCard and Visa Access Regimes
https://www.rba.gov.au/publications/consultations/20131206-prop-variations-to-mc-visa-access-regimes/pdf/20131206-prop-variations-to-mc-visa-access-regimes.pdf

Objectives of an Efficient Payments System | Strategic Review of Innovation in the Payments System: Issues for Consultation June 2011 |…

7 Jun 2011 Consultations
Payment systems have the potential to generate a number of risks for participants, most notably credit risk. ... Managing these risks is an important focus of design for systems processing large values, but all systems should have risk-management
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/objectives-efficient.html

The Australian Repo Market | Central Clearing of Repos in Australia: A Consultation Paper | Consultations

6 Mar 2015 Consultations
replacement cost). For the cash provider, this replacement cost risk is mitigated by the haircut on the collateral that it has received. ... In addition to regulatory constraints on counterparty exposures, institutions' internal risk management
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/australian-repo-market.html