Search: CLS Bank
RBA Glossary definition for CLS Bank
CLS Bank – CLS Bank is a multi-currency bank, regulated by the Federal Reserve Bank of New York, which uses central bank funds to simultaneously settle cross-currency transactions in real time through a process known as Continuous Linked Settlement (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.
Search Results
Oversight of High-value Payment Systems
2 Oct 2013
PSB Annual Report
– 2013
The Federal Reserve also coordinates the CLS Oversight Committee, which provides for cooperative oversight by the central banks of issue in the currencies that settle in CLS. ... In 2012, the OG set up the SWIFT Oversight Forum (SOF) to include
https://www.rba.gov.au/publications/annual-reports/psb/2013/oversight-high-value.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
Oversight of High-value Payment Systems
24 Oct 2016
PSB Annual Report
– 2016
To date, two payment systems have been identified by the Bank as systemically important: the Reserve Bank Information and Transfer System (RITS) and CLS Bank International (CLS). ... The Bank also uses this forum to oversee how well CLS meets relevant
https://www.rba.gov.au/publications/annual-reports/psb/2016/oversight-of-high-value-payment-systems.html
Ongoing Regulatory Responsibilities
13 Sep 2007
PSB Annual Report
– 2007
During 2006/07, the international community of central banks considered proposals by CLS Bank to expand its business beyond PvP foreign exchange settlements. ... Warehouse. This proposal has been subject to close scrutiny by central banks since it
https://www.rba.gov.au/publications/annual-reports/psb/2007/reg-response.html
Oversight of High-value Payment Systems
9 Oct 2015
PSB Annual Report
– 2015
To date, two payment systems have been identified by the Bank as systemically important: the Reserve Bank Information and Transfer System (RITS) and CLS Bank International (CLS). ... CLS is regulated, supervised and overseen by the US Federal Reserve, in
https://www.rba.gov.au/publications/annual-reports/psb/2015/oversight-of-high-value-payment-systems.html
Safety and Stability
11 Nov 2004
PSB Annual Report
– 2004
These include the introduction of real-time gross settlement (RTGS) in 1998, the launching of the Continuous Linked Settlement (CLS) Bank for settlement of foreign exchange transactions in 2002, and the ... The Continuous Linked Settlement Bank (CLS) has
https://www.rba.gov.au/publications/annual-reports/psb/2004/safety-stability.html
Trends in Payments, Clearing and Settlement Systems
14 Sep 2017
PSB Annual Report
– 2017
The level of merchant fees is heavily influenced by wholesale interchange fees paid from merchants' banks to cardholders' banks. ... Foreign exchange transactions involving the AUD are generally settled through CLS Bank International (CLS), with AUD
https://www.rba.gov.au/publications/annual-reports/psb/2017/trends-in-payments-clearing-and-settlement-systems.html
Oversight, Supervision and Regulation of Financial Market Infrastructures
15 Oct 2020
PSB Annual Report
– 2020
CLS Bank International (CLS) is currently the only international SIPS overseen by the Bank. ... The Federal Reserve has established a cooperative oversight arrangement for CLS, in which the Bank participates.
https://www.rba.gov.au/publications/annual-reports/psb/2020/oversight-supervision-and-regulation-of-financial-market-infrastructures.html
Trends in Payments, Clearing and Settlement Systems
17 Oct 2019
PSB Annual Report
– 2019
The largest declines have been to the ‘off-branch’ fleets of some of the banks, particularly in metropolitan areas where there used to be multiple bank ATMs in close proximity. ... Foreign exchange transactions involving the AUD are generally settled
https://www.rba.gov.au/publications/annual-reports/psb/2019/trends-in-payments-clearing-and-settlement-systems.html
Trends in Payments, Clearing and Settlement Systems
15 Oct 2020
PSB Annual Report
– 2020
Available at <The Bank collects data from banks and other financial institutions to monitor trends in the reliability of retail payments. ... Foreign exchange transactions involving the AUD are generally settled through CLS Bank International (CLS), with
https://www.rba.gov.au/publications/annual-reports/psb/2020/trends-in-payments-clearing-and-settlement-systems.html