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RBA Glossary definition for CLS Bank

CLS Bank – CLS Bank is a multi-currency bank, regulated by the Federal Reserve Bank of New York, which uses central bank funds to simultaneously settle cross-currency transactions in real time through a process known as Continuous Linked Settlement (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

The Reserve Bank's Collateral Framework

7 Dec 2017 Bulletin – December 2017
Yasaman Naghiloo and David Olivan
The Reserve Bank, like other central banks, holds collateral to reduce the risk of financial loss in its domestic market operations. The Reserve Bank's collateral framework sets out how the diverse portfolio of collateral assets is managed and
https://www.rba.gov.au/publications/bulletin/2017/dec/2.html

Measuring Credit Losses

31 Dec 2015 RDP 2015-06
David Rodgers
It is unbalanced, as banks enter, exit, and merge. On average, it covers around 80 per cent of bank lending in Australia over the sample period (Figure 2). ... This choice also excludes lending by banks' domestic finance company and merchant bank
https://www.rba.gov.au/publications/rdp/2015/2015-06/mea-cre-losses.html
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The Foreign Exchange Market and Central Counterparties

10 Mar 2010 Bulletin – March 2010
Mark Manning, Alex Heath and James Whitelaw
In some cases, the public sector may be required to facilitate and encourage cooperation, as was the case with the establishment of CLS Bank in 2002 (see below). ... CLS (2009), ‘Briefing on the Global FX Market and the Role of CLS Bank’, September
https://www.rba.gov.au/publications/bulletin/2010/mar/8.html

Foreign Exchange Settlement Practices in Australia

10 Feb 1998 Bulletin – February 1998
Participating banks would hold accounts with a special purpose bank, to be called Continuous Linked Settlement (CLS) Bank. ... The CLS Bank would be a member of the RTGS system of each of the currencies being settled, enabling it to effect payments to
https://www.rba.gov.au/publications/bulletin/1998/feb/2.html

Methodology

31 Dec 2012 RDP 2012-06
Robert Arculus, Jennifer Hancock and Greg Moran
Excluding a number of participants for which indirect settlement would be unrealistic (such as the 4 largest participants, CLS Bank and the RBA), there are 49 participants altogether that are considered ... In our simulations, the RBA, CLS Bank and the
https://www.rba.gov.au/publications/rdp/2012/2012-06/methodology.html
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References

1 Apr 2021 RDP 2021-04
Calvin He
Chapman B (2014), ‘The Impact of RBA Monetary Surprises’, Unpublished manuscript, Reserve Bank of Australia, 30 June. ... RBA (Reserve Bank of Australia) (2002), ‘Overnight Indexed Swap Rates’, RBA Bulletin, June, pp 22–25.
https://www.rba.gov.au/publications/rdp/2021/2021-04/references.html
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Real-time Gross Settlement in Australia

10 Sep 2010 Bulletin – September 2010
Peter Gallagher, Jon Gauntlett and David Sunner
In this task, the Reserve Bank seeks to provide sufficient ESA funds to meet demand by banks, rather than seeking to provide any specific level of funds. ... Banks may, at their discretion, enter into intraday repos with the Reserve Bank to obtain
https://www.rba.gov.au/publications/bulletin/2010/sep/8.html

OTC Derivatives Reforms and the Australian Cross-currency Swap Market

24 Jun 2013 Bulletin – June 2013
Ivailo Arsov, Greg Moran, Ben Shanahan and Karl Stacey
Reforms to improve the management of counterparty credit risk in over-the-counter (OTC) derivatives markets are underway globally. A key pillar of the reforms is the migration of these markets to central counterparties (CCPs), while higher capital
https://www.rba.gov.au/publications/bulletin/2013/jun/7.html

Methodology

31 Dec 2012 RDP 2012-05
Ashwin Clarke and Jennifer Hancock
For simplicity, we allow unlimited liquidity for the RBA, CLS Bank and the settlement accounts of the equity and futures clearing and settlement systems. ... Excluding the RBA, CLS Bank and the settlement accounts for the equity and futures markets.
https://www.rba.gov.au/publications/rdp/2012/2012-05/methodology.html
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References

31 Jan 2023 RDP 2023-01
Tom Cusbert
Foote CL, L Loewenstein and PS Willen (2016), ‘Cross-Sectional Patterns of Mortgage Debt during the Housing Boom: Evidence and Implications’, NBER Working Paper No 22985. ... Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve
https://www.rba.gov.au/publications/rdp/2023/2023-01/references.html
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