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.
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Appendix A: Sub-limits and Bilateral Offsetting
31 Dec 2012
RDP
2012-06
Time when submitted to the simulator. Deferred. Active. Active. Settlement time in RITS. ... Priority. Priority. Settlement time in RITS. Active. Active. Active. Submission time to RITS.
https://www.rba.gov.au/publications/rdp/2012/2012-06/appendix-a.html
The Impact of Payment System Design on Tiering Incentives
30 Oct 2012
RDP
2012-06
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2012/2012-06.html
Methodology
31 Dec 2012
RDP
2012-06
Given the high level of direct participation in RITS, such forecasting was unnecessary in the context of this paper. ... a deferred net basis) and 2 participants that joined RITS after January 2008.
https://www.rba.gov.au/publications/rdp/2012/2012-06/methodology.html
The Impact of Tiering on Risk
31 Dec 2012
RDP
2012-06
This section estimates the changes in credit and concentration risk in RITS due to increased tiering. ... Clients' exposures in the pure RTGS system are similar to those in the RITS replica system.
https://www.rba.gov.au/publications/rdp/2012/2012-06/impact-tier-risk.html
Introduction
31 Dec 2012
RDP
2012-06
Australia's RTGS system, the Reserve Bank Information and Transfer System (RITS), also has a low level of tiering. ... Section 3 provides an overview of RITS and Section 4 outlines the simulation methodology.
https://www.rba.gov.au/publications/rdp/2012/2012-06/introduction.html
Conclusions
31 Dec 2012
RDP
2012-06
Download the Paper 862. KB. Australia's RTGS system, RITS, has a low level of tiering relative to many RTGS systems elsewhere. ... The results of the simulations conducted in this paper provide some evidence to support the hypothesis that the design of
https://www.rba.gov.au/publications/rdp/2012/2012-06/conclusions.html
The Impact of Tiering on Liquidity Usage
31 Dec 2012
RDP
2012-06
For all scenarios in this case, the pure RTGS system is the most liquidity intensive and the RITS replica the least intensive. ... Again, the pure RTGS system is the most liquidity intensive and the RITS replica the least intensive for all scenarios.
https://www.rba.gov.au/publications/rdp/2012/2012-06/impact-tier-liquidity-usage.html
Australia's RTGS System
31 Dec 2012
RDP
2012-06
Download the Paper 862. KB. RITS has operated as an RTGS system since 1998. ... The central queue in RITS operates on a ‘bypass first-in first-out (FIFO) basis’.
https://www.rba.gov.au/publications/rdp/2012/2012-06/aus-system.html
Appendix B: Decomposing Liquidity Savings
31 Dec 2012
RDP
2012-06
Figure B1 shows daily average liquidity used in the RITS replica system for different levels of tiering in the original and additional simulations. ... Note that the green line in this figure is the same as the green RITS replica line in Figure 1.
https://www.rba.gov.au/publications/rdp/2012/2012-06/appendix-b.html
The Benefits and Costs of Tiering
31 Dec 2012
RDP
2012-06
In RITS, intraday liquidity is provided through interest-free repurchase agreements (‘repos’) with the Reserve Bank of Australia (RBA), but participants incur an opportunity cost as collateral posted to access this ... In Australia, the. Payments
https://www.rba.gov.au/publications/rdp/2012/2012-06/benefits-costs-tiering.html