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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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2.3 Banking and Payment Services

19 Oct 2023 RBA Annual Report – October 2023
Banking and Payment Services | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/banking-and-payment-services.html

Performance of Australia's Payments Infrastructure during the Market Turbulence

2 Oct 2009 PSB Annual Report – 2009
The most noticeable change over the past year was a decline in the value of transactions settled across RITS. ... Over 2008/09, there was an improvement in the rate at which payments were settled through RITS.
https://www.rba.gov.au/publications/annual-reports/psb/2009/performance.html

High-value Payments System

25 Oct 2010 PSB Annual Report – 2010
The Bank therefore periodically conducts self-assessments of RITS. The latest self-assessment was conducted in 2009; this updated an assessment undertaken in 2005. ... In late 2009, regular rotation of RITS production operations between the primary and
https://www.rba.gov.au/publications/annual-reports/psb/2010/high-value-payments.html

3.3 Risk Management

19 Oct 2023 RBA Annual Report – October 2023
Risk Management | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/risk-management.html

Business Services

21 Aug 2002 RBA Annual Report – 2002
RITS also provides a facility for electronic tendering for Commonwealth Government securities (CGS). ... In addition to RTGS payments, RITS settles two batches of netted interbank payments each day.
https://www.rba.gov.au/publications/annual-reports/rba/2002/bus-serv.html

Reserve Bank of Australia Annual Report 2023

1 May 2024 RBA Annual Report - 2023 PDF 358KB
https://www.rba.gov.au/publications/annual-reports/rba/2023/pdf/banking-and-payment-services.pdf

Financial Market Infrastructures

28 Sep 2022 PSB Annual Report – September 2022
Reserve Bank Information and Transfer System (RITS) – RITS is Australias high-value payment system. ... Summary of Assessment of RITS. RITS is Australias high-value payments system, which is used by banks and other approved institutions to settle their
https://www.rba.gov.au/publications/annual-reports/psb/2022/financial-market-infrastructures.html

List of tables

13 Sep 2007 PSB Annual Report – 2007
analyses possible conflict of laws and potential legal risk for RITS and its participants. ... Response: The RBA now holds RITS User Group Forums in Sydney and Melbourne twice each year.
https://www.rba.gov.au/publications/annual-reports/psb/2007/tables.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

At a Glance

28 Sep 2022 PSB Annual Report – 2022
https://www.rba.gov.au/publications/annual-reports/psb/2022/