Search: RITS
RBA Glossary definition for RITS
RITS – The Reserve Bank Information and Transfer System (RITS) was established in August 1991 and is operated by the Reserve Bank of Australia. RITS is Australia's Real-Time Gross Settlement (RTGS) system, which plays a central role in the Australian payments clearing and settlement system.
RITS is the means by which Exchange Settlement Accounts are accessed and membership is compulsory for all Australian-licensed banks and participants in the Reserve Bank's domestic market operations.
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ISO 20022 Migration for the Australian Payments System – Conclusions Paper
25 Feb 2020
Consultations
PDF
560KB
batch settlements, including property settlement and reservation (see below). • RITS AIF (see below). • ... Also known as the SWIFT PDS. Settlement occurs on a line-by-line basis in RITS.
https://www.rba.gov.au/publications/consultations/202002-iso-20022-migration-for-the-australian-payments-system/pdf/iso-20022-migration-for-the-australian-payments-system-conclusions-paper.pdf
ISO 20022 Migration for the Australian Payments System – Responses and Options Paper
11 Sep 2019
Consultations
PDF
1175KB
Bank Information and Transfer System (RITS) Members directly using the New Payments Platform. ... AusPayNet, a representative from the RBA’s Payments Settlements Department (responsible for RITS).
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/pdf/consultation-paper.pdf
ISO 20022 Migration for the Australian Payments System – Issues Paper
7 Apr 2019
Consultations
PDF
1644KB
A consultation paper issued by the Reserve Bank of Australia and the Australian Payments Council - April 2019
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/pdf/issues-paper.pdf
Central Clearing of Repos in Australia: Conclusions
28 Oct 2015
Consultations
PDF
306KB
the Bank is operator of the domestic high-value payment system, RITS, that settles the cash leg of repo transactions. ... under a repurchase agreement that reverses by the end of the RITS day.
https://www.rba.gov.au/publications/consultations/201503-central-clearing-of-repos-in-australia/conclusions/pdf/central-clearing-of-repos-in-australia-conclusions-2015-10.pdf
Strategic Review of Innovation in the Payments System: Issues for Consultation - June 2011
30 Jun 2011
Consultations
PDF
1163KB
Strategic Review of Innovation in the Payments System
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/pdf/201106-strategic-review-innovation-issues.pdf
Central Clearing of OTC Derivatives in Australia: A discussion paper issued by the Council of Financial Regulators – 2011 | Consultations
7 Jun 2011
Consultations
REFORMS: Credit Cards; Debit Cards; The ATM System; ATM Fee Reforms; Review of Card Payment Systems Reforms; Account Switching; POLICY FRAMEWORK: Payments System Board; Core Principles for Systemically Important Payment Systems; Standards for
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/
Review of Card Surcharging: A Consultation Document | Consultations
7 Jun 2011
Consultations
REFORMS: Credit Cards; Debit Cards; The ATM System; ATM Fee Reforms; Review of Card Payment Systems Reforms; Account Switching; POLICY FRAMEWORK: Payments System Board; Core Principles for Systemically Important Payment Systems; Standards for
https://www.rba.gov.au/publications/consultations/201106-review-card-surcharging/
Innovation Gaps in the Australian Payments System | Strategic Review of Innovation in the Payments System: Issues for Consultation June…
7 Jun 2011
Consultations
As RITS is geared to processing a relatively small number of high-value payments, this would require changes to the RITS infrastructure, to build a high-volume messaging system which would ... pass interbank settlement positions to RITS on a near
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/innovation-gaps.html
The Environment for Innovation in the Australian Payments System | Strategic Review of Innovation in the Payments System: Issues for…
7 Jun 2011
Consultations
Settlement of interbank obligations arising from the payments system ultimately occurs across exchange settlement accounts (ESAs) of direct participants in RITS. ... In the period immediately ahead, RITS will also have the capacity to settle bilaterally
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/environment-innovation-australian.html
Migration Approach | ISO 20022 Migration for the Australian Payments System – Responses and Options Paper – September 2019
31 Dec 2002
Consultations
The RBA will not perform translation of any messages in RITS. ... For the HVCS and batch migrations to ISO 20022, the main potential impact is to the reporting that RITS provides to ESA holders, as these may contain details of settlements that
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/migration-approach.html