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
8 Sep 2011
PSB Annual Report
– 2011
CLS Bank provides a mechanism for settling foreign exchange transactions on a payment-versus-payment basis, thereby eliminating foreign exchange settlement risk. ... As CLS settles transactions involving the Australian dollar, the Reserve Bank is
https://www.rba.gov.au/publications/annual-reports/psb/2011/oversight-high-value.html
Performance of Australia's Payments Infrastructure during the Market Turbulence
2 Oct 2009
PSB Annual Report
– 2009
CLS Bank provides a settlement facility used by global financial market participants, including those in Australia, to effect payment-versus-payment (PvP) settlement in the foreign exchange market. ... While Lehman used CLS to settle its foreign exchange
https://www.rba.gov.au/publications/annual-reports/psb/2009/performance.html
Other Regulatory Responsibilities
11 Sep 2008
PSB Annual Report
– 2008
any such bespoke agreements be reported to the Bank. CLS Bank was developed to provide a mechanism for settling foreign exchange transactions on a payment‑versus‑payment basis, thereby eliminating foreign ... The Bank, along with some other central
https://www.rba.gov.au/publications/annual-reports/psb/2008/reg-response.html
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
Oversight of High-value Payments Systems
10 Sep 2012
PSB Annual Report
– 2012
CLS Bank (CLS) is primarily a settlement system for foreign exchange transactions that involve an exchange of currencies. ... The Federal Reserve also coordinates the CLS Oversight Committee, which provides for cooperative oversight by the central banks
https://www.rba.gov.au/publications/annual-reports/psb/2012/oversight-high-value.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
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
All Speeches
9 Mar 2023
Speeches by senior staff of the Reserve Bank
https://www.rba.gov.au/speeches/list.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