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.
Search Results
The Australian High-Value Payments System
10 Mar 2004
FSR
– March 2004
These transactions account for around 70 per cent of the value that passes through RITS. ... These transactions are a fairly small proportion – around 5 per cent – of total RITS transactions.
https://www.rba.gov.au/publications/fsr/2004/mar/aus-high-val-pay-sys.html
List of tables
10 Mar 2009
FSR
– March 2009
Table 8: RITS Throughput. Time by which each percentage of total value is settled.
https://www.rba.gov.au/publications/fsr/2009/mar/tables.html
The Australian High-Value Payments System
19 Apr 2004
FSR
PDF
98KB
These transactions account for around 70 per cent of the value that passes through RITS. • ... These transactions are a fairly small proportion – around 5 per cent – of total RITS transactions.
https://www.rba.gov.au/publications/fsr/2004/mar/pdf/0304-1.pdf
The Australian Financial System
6 Apr 2023
FSR
– April 2023
The Australian Financial System | Financial Stability Review – April 2023
https://www.rba.gov.au/publications/fsr/2023/apr/australian-financial-system.html
Box D: The New Payments Platform and Fast Settlement Service
10 Feb 2020
FSR
April 2018
PDF
588KB
https://www.rba.gov.au/publications/fsr/2018/apr/pdf/box-d.pdf
The Australian Financial System
9 Oct 2020
FSR
– October 2020
RITS also introduced arrangements to reduce the risk that the pandemic will create operational challenges. ... The Bank also communicated with RITS members and major RITS feeder systems to ensure a clear understanding of the operational arrangements
https://www.rba.gov.au/publications/fsr/2020/oct/australian-financial-system.html
Box D: The New Payments Platform and Fast Settlement Service
10 Apr 2018
FSR
– April 2018
The FSS is a new service of Australia's existing interbank settlement system, the Reserve Bank Information and Transfer System (RITS). ... the settlement of NPP payments through the FSS or the settlement of other transactions in RITS.
https://www.rba.gov.au/publications/fsr/2018/apr/box-d.html
Box D: Cyber Risk
20 Oct 2018
FSR
– October 2018
A similar review of RITS in 2017 found no significant issues with its cyber security arrangements. ... In recognition of this, RITS has recently been assessed as being compliant with various international standards.
https://www.rba.gov.au/publications/fsr/2018/oct/box-d.html
The Australian Financial System
8 Apr 2022
FSR
– April 2022
The Reserve Bank Information and Transfer System (RITS) settles high-value payments between Australian banks, FMIs and other payment service providers. ... In December 2021, RITS issued revised Business Continuity and Security Standards, which include
https://www.rba.gov.au/publications/fsr/2022/apr/australian-financial-system.html
Developments in the Financial System Infrastructure
10 Sep 2005
FSR
– September 2005
has been particularly important in ensuring the legal robustness of settlement in RITS. ... Core Principle V – Settlement in Multilateral Netting Systems – is not applicable since RITS is not a multilateral netting system.
https://www.rba.gov.au/publications/fsr/2005/sep/dev-sys-infra.html