Search: CLS
RBA Glossary definition for CLS
CLS – Continuous Linked Settlement. A process enabling simultaneous foreign exchange settlement across the globe, eliminating the settlement risk caused by delays arising from time-zone differences.
Search Results
Other Regulatory Responsibilities
11 Sep 2008
PSB Annual Report
– 2008
CLS eliminates this risk by settling both legs of a foreign exchange transaction simultaneously. ... per cent of the value of RTGS transactions, the Bank would review CLS's ES account arrangements.
https://www.rba.gov.au/publications/annual-reports/psb/2008/reg-response.html
Oversight of High-value Payment Systems
8 Sep 2011
PSB Annual Report
– 2011
There are 17 currencies eligible for settlement in CLS, including the Australian dollar. ... As CLS settles transactions involving the Australian dollar, the Reserve Bank is represented on this committee.
https://www.rba.gov.au/publications/annual-reports/psb/2011/oversight-high-value.html
Performance of Australia's Payments Infrastructure during the Market Turbulence
2 Oct 2009
PSB Annual Report
– 2009
While Lehman used CLS to settle its foreign exchange transactions, it did so by engaging another bank to settle on its behalf. ... CLS also provides one-sided settlement services in respect of non-deliverable forwards and credit default swaps (CDS).
https://www.rba.gov.au/publications/annual-reports/psb/2009/performance.html
Financial Market Infrastructures
28 Sep 2022
PSB Annual Report
– September 2022
CLS Bank International (CLS) – CLS operates a payment-versus-payment settlement system for foreign exchange transactions in a range of currencies, including the Australian dollar. ... The Bank participates in a cooperative oversight arrangement for CLS,
https://www.rba.gov.au/publications/annual-reports/psb/2022/financial-market-infrastructures.html
Oversight of High-value Payments Systems
10 Sep 2012
PSB Annual Report
– 2012
Currently, 17 currencies are eligible for settlement in CLS, including the Australian dollar. ... Members meet any Australian dollar settlement obligation by paying into CLS's ESA in RITS.
https://www.rba.gov.au/publications/annual-reports/psb/2012/oversight-high-value.html
4. Financial Market Infrastructures
21 Oct 2021
PSB Annual Report
– 2021
CLS Bank International (CLS) – CLS operates a payment-versus-payment settlement system for foreign exchange transactions in a range of currencies, including the Australian dollar. ... systems). Australia. (RBA). CLS. Foreign exchange transactions
https://www.rba.gov.au/publications/annual-reports/psb/2021/financial-market-infrastructures.html
Oversight of High-value Payment Systems
2 Oct 2013
PSB Annual Report
– 2013
Members meet any Australian dollar settlement obligation by making payments into a CLS's ESA via RITS. ... RITS, CLS, the Low Value Settlement Service (LVSS) and Austraclear) and those systems' participants.
https://www.rba.gov.au/publications/annual-reports/psb/2013/oversight-high-value.html
Ongoing Regulatory Responsibilities
13 Sep 2007
PSB Annual Report
– 2007
payment-versus-payment (PvP) settlement (where both currencies are settled simultaneously) prior to the establishment of CLS Bank. ... funds in one currency and receiving funds in another, as occurs with traditional CLS settlements.
https://www.rba.gov.au/publications/annual-reports/psb/2007/reg-response.html
Payments System Regulation and Policy Issues
27 Sep 2023
PSB Annual Report
– September 2023
Payments System Regulation and Policy Issues | Payments System Board Annual Report – September 2023
https://www.rba.gov.au/publications/annual-reports/psb/2023/payments-system-regulation-and-policy-issues.html
Oversight of High-value Payment Systems
24 Oct 2016
PSB Annual Report
– 2016
CLS is an international payment system that links the settlement of the two legs of a foreign exchange transaction. ... The Bank also uses this forum to oversee how well CLS meets relevant international standards.
https://www.rba.gov.au/publications/annual-reports/psb/2016/oversight-of-high-value-payment-systems.html