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: Interbank Market Infrastructure
20 Jan 2021
RDP
2021-01
During 2008 there were around 50 banks with RITS ESAs, comprising Australian banks and subsidiaries and/or branches of foreign banks. ... While an unsecured loan takes place through a series of cash payments in RITS, a repo loan resembles a series of
https://www.rba.gov.au/publications/rdp/2021/2021-01/appendix-a.html
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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
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Australia's RTGS System
31 Dec 2012
RDP
2012-05
Download the Paper 578. KB. RITS has operated as an RTGS system since 1998. ... RITS. The central queue in RITS operates on a ‘bypass first-in first-out (FIFO) basis’.
https://www.rba.gov.au/publications/rdp/2012/2012-05/aus-system.html
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Features of the Market
15 Dec 2016
RDP
2016-11
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
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Reserve Bank Domestic Operations under RTGS
19 Oct 1998
Speech
Remarks by Frank Campbell to the AFMA TechnoFuture '98 Seminar Program, Sydney
https://www.rba.gov.au/speeches/1998/sp-so-191098.html
Update on the Strategic Review of Innovation in the Payments System
28 Aug 2013
Speech
Speech by Tony Richards to the Future of Digital Payments Conference, Sydney
https://www.rba.gov.au/speeches/2013/sp-so-280813.html
The Path to Innovation in Payments Infrastructure in Australia
26 Sep 2014
Speech
Speech by Tony Richards at the Chicago Payments Symposium, Chicago
https://www.rba.gov.au/speeches/2014/sp-so-260914.html
Remarks at FINSIA Regulators Panel
5 Nov 2015
Speech
Remarks by Philip Lowe, Deputy Governor, at the at FINSIA Regulators Panel, Sydney
https://www.rba.gov.au/speeches/2015/sp-dg-2015-11-05.html
The Shift to Electronic Payments – Some Policy Issues
28 Mar 2023
Speech
Speech delivered by Ellis Connolly, Head of Payments Policy, AFR Banking Summit, Sydney
https://www.rba.gov.au/speeches/2023/sp-so-2023-03-28.html
The Economics of a Central Bank Digital Currency in Australia
8 Dec 2022
Speech
Speech delivered by Brad Jones, Assistant Governor (Financial System), 17th Central Bank Conference on the Microstructure of Financial Markets, Sydney
https://www.rba.gov.au/speeches/2022/sp-ag-2022-12-08.html