Search: RITS
RBA Glossary definition for RITS
RITS – The Reserve Bank Information and Transfer System (RITS) was established in August 1991 and is operated by the Reserve Bank of Australia. RITS is Australia's Real-Time Gross Settlement (RTGS) system, which plays a central role in the Australian payments clearing and settlement system.
RITS is the means by which Exchange Settlement Accounts are accessed and membership is compulsory for all Australian-licensed banks and participants in the Reserve Bank's domestic market operations.
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Payments System Board Update: May 2023 Meeting
25 May 2023
Media Releases
Today’s Payments System Board meeting discussed the Bank’s targeted self-assessment of Australia's real-time gross settlement system against the relevant international standards, the pricing of New Payments Platform services, competition in the
https://www.rba.gov.au/media-releases/2023/mr-23-11.html
Reserve Bank of Australia Domestic Market Dealing Arrangements: Information Paper - 9 May 1996
11 Aug 2004
Media Release
PDF
81KB
3. Settlement. All transactions by the Bank will be for same-day settlement through RITS. ... To assist in this, the Agreement and Annex will be incorporated into the RITS regulations and can be executed bilaterally between counterparties within the
https://www.rba.gov.au/media-releases/1996/pdf/mr-96-06-info-paper.pdf
Reform of Interbank Payments - A Proposal for Implementing Real Time Gross Settlement in Australia
5 Apr 1995
Media Releases
Some enhancements to RITS functions for queueing and reporting would also be appropriate. ... Customer-initiated payments (eg purchase of bonds by a non-bank member of RITS).
https://www.rba.gov.au/media-releases/1995/mr-95-05-attach-2.html
Payments System Board Update: February 2023 Meeting
16 Feb 2023
Media Releases
Today’s Payments System Board meeting discussed ASX’s self-assessment against the Financial Stability Standards (FSS), the Bank’s framework for supervising payment system safety and resilience, payments system regulatory reform, the future of
https://www.rba.gov.au/media-releases/2023/mr-23-05.html
Reform of Interbank Payments
6 Jul 1995
Media Releases
Announces that the RBA is to press ahead with the installation of Real-time Gross Settlement (RTGS) with the aim to having a system operational in 1997
https://www.rba.gov.au/media-releases/1995/mr-95-10.html
Strategic Review of Innovation in the Payments System
7 Jun 2012
Media Releases
The Reserve Bank has released the conclusions of its Strategic Review of Innovation in the Payments System
https://www.rba.gov.au/media-releases/2012/mr-12-14.html
December: 1997-Glossary
9 Mar 2023
Media Release
RITS. Reserve Bank Information and Transfer System. A system operated by the RBA primarily for the settlement of transactions in government securities. ... All foreign exchange transactions with the RBA are settled using RITS.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-e.html
Changes to the Reserve Bank's Domestic Market Operations in the Transition Phase to Real-time Gross Settlement
9 May 1996
Media Releases
Announces changes to the RBA's Domestic Markets Operations to be introduced in June to August 1986
https://www.rba.gov.au/media-releases/1996/mr-96-06.html
Payments System Board Update: February 2020 Meeting
21 Feb 2020
Media Releases
Today’s Payments System Board meeting discussed the results from the Bank’s 2019 Consumer Payments Survey, the Review of Retail Payments Regulation, adoption of the new ISO 20022 messaging standards and proposed regulatory reforms for financial
https://www.rba.gov.au/media-releases/2020/mr-20-03.html
Changes to the Reserve Bank's Dealing Arrangements and the Prime Assets Requirements (PAR)
10 Jun 1997
Media Releases
Announcement of changes to the Reserve Bank's dealing arrangements and the Prime Assets Requirement (PAR)
https://www.rba.gov.au/media-releases/1997/mr-97-11.html