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RBA Glossary definition for FAST

FAST – Fast and Secure Transfers

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Our Role

17 Oct 2019 RBA Annual Report – 2019
The Fast Settlement Service of RITS settles obligations arising from individual payments exchanged on the New Payments Platform in real time on a 24/7 basis.
https://www.rba.gov.au/publications/annual-reports/rba/2019/our-role.html

Banking and Payment Services

21 Oct 2021 RBA Annual Report – 2021
Another service of RITS is the Fast Settlement Service (FSS), which enables the real-time gross settlement of transactions initiated through the NPP. ... Since its public launch in 2018, the NPP has greatly expanded the availability of fast and low-cost
https://www.rba.gov.au/publications/annual-reports/rba/2021/banking-and-payment-services.html

Governor's Foreword

21 Oct 2021 RBA Annual Report – 2021
Many of these payments have been made using Australia's real-time fast payment system, which allows money to be paid into bank accounts 24 hours a day, seven days a ... week. The Bank has been a long-time proponent of a fast payments system in Australia
https://www.rba.gov.au/publications/annual-reports/rba/2021/governors-foreword.html

Abbreviations

17 Oct 2019 PSB Annual Report – 2019
Fast Settlement Service. GST. Goods and Services Tax. ICO. Initial coin offering.
https://www.rba.gov.au/publications/annual-reports/psb/2019/abbreviations.html

Abbreviations

12 Apr 2020 RBA Annual Report – 2020
FSS. Fast Settlement Service (of RITS). FTE. full-time equivalent. FX. foreign exchange.
https://www.rba.gov.au/publications/annual-reports/rba/2020/abbreviations.html

Retail Payments Regulation and Policy Issues

14 Sep 2017 PSB Annual Report – 2017
PayNow FAST transfers using the new central addressing scheme were launched in July by seven Singaporean banks. ... The taskforce envisages that fast payment solutions utilising the new settlement capability will be developed by 2020.
https://www.rba.gov.au/publications/annual-reports/psb/2017/retail-payments-regulation-and-policy-issues.html

Abbreviations

17 Oct 2019 RBA Annual Report – 2019
FSS. Fast Settlement Service (of RITS). FTE. full-time equivalent. FX. foreign exchange.
https://www.rba.gov.au/publications/annual-reports/rba/2019/abbreviations.html

Governance

15 Oct 2020 PSB Annual Report – 2020
as provider of the Fast Settlement Service (FSS)) appoints one of its directors.
https://www.rba.gov.au/publications/annual-reports/psb/2020/governance.html

Abbreviations

28 Sep 2022 PSB Annual Report – 2022
FSB. Financial Stability Board. FSS. Fast Settlement Service. HVCS. High Value Clearing System.
https://www.rba.gov.au/publications/annual-reports/psb/2022/abbreviations.html

Abbreviations

20 Sep 2018 RBA Annual Report – 2018
FSS. Fast Settlement Service (of RITS). FTE. full-time equivalent. FX. foreign exchange.
https://www.rba.gov.au/publications/annual-reports/rba/2018/abbreviations.html