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.
Search Results
Launch of the New Payments Platform
13 Feb 2018
Media Releases
Today, the Reserve Bank of Australia and its Payments System Board (PSB) welcome the public launch of the New Payments Platform (NPP).
https://www.rba.gov.au/media-releases/2018/mr-18-02.html
Payments System Board Update: May 2019 Meeting
24 May 2019
Media Releases
The Bank's assessment of Australia's real-time gross settlement system – the Reserve Bank Information and Transfer System (RITS) – against the relevant international standards.
https://www.rba.gov.au/media-releases/2019/mr-19-13.html
Application for an Exchange Settlement Account
1 Mar 1999
Media Releases
Application for an Exchange Settlement Account
https://www.rba.gov.au/media-releases/1999/mr-99-02-app.html
The Case for Real Time Gross Settlement (Media Release 1995-05 attachment 1)
9 Aug 2004
Media Release
PDF
106KB
RITS has become well established as an important part of the settlement infrastructure and integration with Fintracs (which is being discussed separately between the Reserve. ... 4. Bank and Austraclear) would strengthen this position further. RITS
https://www.rba.gov.au/media-releases/1995/pdf/mr-95-05-attach-1.pdf
Media Releases – 1998
31 Dec 1998
Media releases
issued in 1998
https://www.rba.gov.au/media-releases/1998/
Payments System Board Update: May 2017 Meeting
19 May 2017
Media Releases
At its meeting today, the Payments System Board discussed the Bank's recent consultation on dual-network cards and mobile wallet technology and issues relating to customer access to and sharing of banking and payments data.
https://www.rba.gov.au/media-releases/2017/mr-17-10.html
RESERVE BANK OF AUSTRALIA FOREIGN EXCHANGE SETTLEMENTPRACTICES IN AUSTRALIA ...
18 Dec 1997
Media Release
PDF
268KB
RESERVE BANK OF AUSTRALIA. FOREIGN EXCHANGE SETTLEMENTPRACTICES IN AUSTRALIA. December 1997. ii. The research for this report was undertaken by Bernie Egan, Jeff Grow, Nathan Hale and Karen Cole from theBank’s Financial System Department. The
https://www.rba.gov.au/media-releases/1997/pdf/fxsp.pdf
Payments System Board Update: May 2018 Meeting
18 May 2018
Media Releases
At its meeting today, the Payments System Board reviewed industry progress on providing merchants with the ability to route contactless debit card transactions to their lowest-cost processing network. Least-cost routing (LCR), or merchant routing,
https://www.rba.gov.au/media-releases/2018/mr-18-12.html
Payments System Board Update: February 2022 Meeting
17 Feb 2022
Media Releases
Today’s Payments System Board meeting discussed payments system regulatory reforms, systemically important payment systems, critical infrastructure reforms, banknote distribution arrangements and CBDC developments.
https://www.rba.gov.au/media-releases/2022/mr-22-03.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