Search: 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.
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4. Financial Market Infrastructures
21 Oct 2021
PSB Annual Report
– 2021
CLS Bank International (CLS) – CLS operates a payment-versus-payment settlement system for foreign exchange transactions in a range of currencies, including the Australian dollar. ... systems). Australia. (RBA). CLS. Foreign exchange transactions
https://www.rba.gov.au/publications/annual-reports/psb/2021/financial-market-infrastructures.html
Oversight of High-value Payment Systems
12 Sep 2014
PSB Annual Report
– 2014
Consequently, the Bank has identified CLS as a systemically important international payment system. ... CLS is currently finalising a self-assessment of its practices against the Principles.
https://www.rba.gov.au/publications/annual-reports/psb/2014/oversight-high-value.html
Payments System
19 Jul 2023
Overview of the Australian Payments System
https://www.rba.gov.au/payments-and-infrastructure/payments-system.html
Performance of Australia's Payments Infrastructure during the Market Turbulence
2 Oct 2009
PSB Annual Report
– 2009
While Lehman used CLS to settle its foreign exchange transactions, it did so by engaging another bank to settle on its behalf. ... CLS also provides one-sided settlement services in respect of non-deliverable forwards and credit default swaps (CDS).
https://www.rba.gov.au/publications/annual-reports/psb/2009/performance.html
Other Regulatory Responsibilities
11 Sep 2008
PSB Annual Report
– 2008
CLS eliminates this risk by settling both legs of a foreign exchange transaction simultaneously. ... per cent of the value of RTGS transactions, the Bank would review CLS's ES account arrangements.
https://www.rba.gov.au/publications/annual-reports/psb/2008/reg-response.html
Oversight of High-value Payment Systems
8 Sep 2011
PSB Annual Report
– 2011
There are 17 currencies eligible for settlement in CLS, including the Australian dollar. ... As CLS settles transactions involving the Australian dollar, the Reserve Bank is represented on this committee.
https://www.rba.gov.au/publications/annual-reports/psb/2011/oversight-high-value.html
Oversight of High-value Payment Systems
2 Oct 2013
PSB Annual Report
– 2013
Members meet any Australian dollar settlement obligation by making payments into a CLS's ESA via RITS. ... RITS, CLS, the Low Value Settlement Service (LVSS) and Austraclear) and those systems' participants.
https://www.rba.gov.au/publications/annual-reports/psb/2013/oversight-high-value.html
Payments System Board Update: August 2023 Meeting
17 Aug 2023
Media Releases
Today's Payments System Board meeting discussed the annual Assessment of the ASX clearing and settlement facilities against the Financial Stability Standards, the oversight of international financial market infrastructures, prominent payment systems,
https://www.rba.gov.au/media-releases/2023/mr-23-20.html
Real-time Gross Settlement in Australia
10 Sep 2010
Bulletin
– September 2010
One set of funding payments which must, however, take place late in the RTGS day is for foreign exchange related transactions that use Continuous Linked Settlement (CLS), which has its operational ... However, the afternoon peak has fallen over time, due
https://www.rba.gov.au/publications/bulletin/2010/sep/8.html
Oversight of High-value Payments Systems
10 Sep 2012
PSB Annual Report
– 2012
Currently, 17 currencies are eligible for settlement in CLS, including the Australian dollar. ... Members meet any Australian dollar settlement obligation by paying into CLS's ESA in RITS.
https://www.rba.gov.au/publications/annual-reports/psb/2012/oversight-high-value.html