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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: November 2015 Meeting

20 Nov 2015 Media Releases
Payments System Board Update: November 2015 Meeting
https://www.rba.gov.au/media-releases/2015/mr-15-22.html

Measures to Enhance the Functioning of Financial Markets

24 Sep 2008 Media Releases
Announces that the Reserve Bank of Australia is introducing a foreign exchange swap facility with the Federal Reserve and a domestic term deposit facility which are designed to contribute to the smooth functioning of domestic markets
https://www.rba.gov.au/media-releases/2008/mr-08-15.html

Payments System Board Update: May 2022 Meeting

26 May 2022 Media Releases
Today’s Payments System Board meeting discussed banknote distribution arrangements, the ASX’s CHESS replacement program, payments system regulatory reforms, stablecoin developments, merchant payment costs and the annual assessment of Australia's
https://www.rba.gov.au/media-releases/2022/mr-22-13.html

Same-day Settlement of Direct Entry Payments

25 Nov 2013 Media Releases
Starting from 25 November, the settlement of Direct Entry (DE) obligations between payments system participants is occurring on a same-day, rather than next-day, basis
https://www.rba.gov.au/media-releases/2013/mr-13-24.html

Cash Rate Total Return Index

9 May 2016 Media Releases
The Reserve Bank of Australia has commenced publishing a Cash Rate Total Return Index (TRI), which members of the public can use as a benchmark with a risk-free rate of return.
https://www.rba.gov.au/media-releases/2016/mr-16-12.html

December: 1997-Sample Questionnaire

9 Mar 2023 Media Release
System. Used for FX. Proportion own FX business (%). Proportion as correspondent (%). BITS payments. Austraclear cash transfers. RITS cash transfers. Paper items, such as interbank warrants and bank.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-b.html

Payments System Issues

29 Nov 2012 Media Releases
At its 16 November meeting, the Payments System Board approved a report setting out its conclusions from an informal consultation on operational incidents in retail payments systems. The Board also concluded its review of the regulatory framework
https://www.rba.gov.au/media-releases/2012/mr-12-35.html

Real-time Gross Settlement (RTGS) – Liquidity

6 May 1997 Media Releases
The Reserve Bank will stand ready to provide intra-day liquidity to banks and others with Exchange Settlement Accounts, to ensure that payments flow smoothly. This liquidity will take the form of within-day repurchase agreements in Commonwealth
https://www.rba.gov.au/media-releases/1997/mr-97-08.html

Reform of Interbank Payments: RTGS Business Specifications

31 Aug 1995 Media Releases
Announces the release of draft business specifications for the (RTGS) system
https://www.rba.gov.au/media-releases/1995/mr-95-13.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-info-paper.html