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RBA Glossary definition for HAC Rule
HAC Rule – Honour All Cards Rule
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Assessment of the Reserve Bank Information and Transfer System
16 Jun 2021
Media Releases
The Assessment concludes that RITS ‘observed’ all relevant Principles as at 31 March 2021, except for the Principles on Participant-Default Rules and Procedures, and on Operational Risk, which were rated
https://www.rba.gov.au/media-releases/2021/mr-21-11.html
Payment Systems and Netting Act 1998: Approval of RITS and Austraclear
29 Oct 1998
Media Releases
The Payments System Board declares the Reserve Bank Information and Transfer System (RITS) and the Austraclear System (otherwise known as FINTRACS) are approved real-time gross settlement (RTGS) systems in terms of the Payment Systems and Netting
https://www.rba.gov.au/media-releases/1998/mr-98-15.html
BIS and Central Bank Partners to Explore Protocols for Embedding Policy and Regulatory Compliance in Cross-border Transactions
5 Oct 2023
Media Releases
The BIS Innovation Hub Singapore Centre, Reserve Bank of Australia, Bank of Korea, Bank Negara Malaysia, and Monetary Authority of Singapore today launched Project Mandala.
https://www.rba.gov.au/media-releases/2023/mr-23-26.html
Payments System Board Update: November 2020 Meeting
20 Nov 2020
Media Releases
Today’s Payments System Board meeting discussed the Bank’s review of the retail payments regulation, Treasury’s forthcoming review of the Australian payments system, the involvement of ‘bigtech’ firms in the payments industry, the Bank’s
https://www.rba.gov.au/media-releases/2020/mr-20-30.html
Payments System Issues
12 Jun 2012
Media Releases
The variation allows card scheme rules to limit surcharges to the reasonable cost of card acceptance. ... The new designation will be narrow in scope, defining the EFTPOS system based on the Scheme Rules of EFTPOS Payments Australia Limited (EPAL).
https://www.rba.gov.au/media-releases/2012/mr-12-15.html
Reform of the ATM System in Australia
31 Aug 2007
Media Releases
In addition, the rules that govern access to sub-networks should be transparent and objective and not impair efficiency and competition in the payments system. ... Instead, the Board is encouraging industry participants to address this issue directly,
https://www.rba.gov.au/media-releases/2007/mr-07-13.html
Reform of Debit Card Systems in Australia
20 Dec 2005
Media Releases
The Reserve Bank has gazetted a draft Access Regime for the EFTPOS system and released a Consultation Document. The proposals, together with APCA's EFTPOS Code, are designed to significantly improve access arrangements to Australia's EFTPOS system.
https://www.rba.gov.au/media-releases/2005/mr-05-16.html
Payments System Board Update: August 2021 Meeting
20 Aug 2021
Media Releases
At its meeting today, the Payments System Board discussed the Bank's review of retail payments regulation, the assessment of the ASX clearing and settlement facilities against the Bank's Financial Stability Standards, payment scams, and an updated
https://www.rba.gov.au/media-releases/2021/mr-21-16.html
Payments System Issues
22 Nov 2012
Media Releases
Media release issued on 22 November 2012 announcing payments system issues
https://www.rba.gov.au/media-releases/2012/mr-12-34.html
Payments System Board Update: November 2016 Meeting
18 Nov 2016
Media Releases
At its meeting today the Payments System Board discussed strategic priorities for the Bank's payments policy work, including some issues relating to technology, competition and efficiency.
https://www.rba.gov.au/media-releases/2016/mr-16-28.html