Search: RITS

Sort by: Relevance Date
1–8 of 8 collapsed search results for 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

Features of the Market

15 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
The ‘Evening’ session opens at 17.20. All ‘evening agreed’ banks must remain available to settle RITS transactions during this session. ... As a result, the intraday distribution of RITS transactions (including IBOC loans) differs between summer
https://www.rba.gov.au/publications/rdp/2016/2016-11/features-of-the-market.html

References

15 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
RBA (Reserve Bank of Australia) (2009a), ‘About RITS’, viewed 20 June 2016. ... RBA (2015a), ‘Continuous Linked Settlement: RITS Session Times and Operational Arrangements’, Version 8, July, RITS Information Paper.
https://www.rba.gov.au/publications/rdp/2016/2016-11/references.html

Identifying Interbank Loans from Payments Data

1 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
Australia's high-value payments system is the Reserve Bank Information and Transfer System (RITS). ... RITS is open on days when banks are generally open for business in Sydney or Melbourne.
https://www.rba.gov.au/publications/rdp/2016/2016-11/full.html

The Algorithm

15 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
the Furfine-type algorithm is run on transactions entered into RITS via either cash transfers or Austraclear (over 900,000 rounded transactions between 2005 and 2015). ... Including non-rounded transactions (as potential repayment transactions), there
https://www.rba.gov.au/publications/rdp/2016/2016-11/algorithm.html

Introduction

15 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
For simplicity, this paper refers to all participants as ‘banks’. describes Australia's high-value payments system (known as the Reserve Bank Information and Transfer System, or RITS) and the IBOC ... market. From May 2016, the RBA has required banks
https://www.rba.gov.au/publications/rdp/2016/2016-11/introduction.html

Appendix B: Detailed Description of the Algorithm

15 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
It is implemented in Stata, using data from both RITS cash transfers and the Austraclear feeder system. ... This part of our algorithm is implemented in Matlab, using data from RITS cash transfers and excluding transactions that are part of any matches
https://www.rba.gov.au/publications/rdp/2016/2016-11/appendix-b.html

The Australian Payments System and IBOC Market

15 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
Australia's high-value payments system is the Reserve Bank Information and Transfer System (RITS). ... RITS is open on days when banks are generally open for business in Sydney or Melbourne.
https://www.rba.gov.au/publications/rdp/2016/2016-11/australian-payments-system-and-iboc-market.html

Appendix A: Literature Review

15 Dec 2016 RDP 2016-11
Anthony Brassil, Helen Hughson and Mark McManus
In Australia, Sokolov et al (2012) use a week (in February 2007) of RITS data and a Furfine-type algorithm to identify interbank loans.
https://www.rba.gov.au/publications/rdp/2016/2016-11/appendix-a.html