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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The Australian Financial System
20 Apr 2016
FSR
– April 2016
In addition to the regular assessment of RITS against the PFMI, projects are underway to review the system's resilience. ... RITS continues to be a secure system that meets international best practice and the needs of its participants.
https://www.rba.gov.au/publications/fsr/2016/apr/aus-fin-sys.html
The Australian Financial System
10 Sep 2014
FSR
– September 2014
The Reserve Bank invests in regular upgrades to its systems to ensure that RITS maintains resilient operations. ... Enhancement to RITS functionality to support settlement of these transactions will be implemented in late 2014.
https://www.rba.gov.au/publications/fsr/2014/sep/aus-fin-sys.html
The Australian Financial System
10 Feb 2020
FSR
April 2018
PDF
1279KB
https://www.rba.gov.au/publications/fsr/2018/apr/pdf/03-australian-financial-system.pdf
Box C: Building Resilience to Cyber Risks
8 Apr 2022
FSR
– April 2022
Its operator role means that the Bank also supports broader initiatives that engage RITS members, including contingency exercises with industry participants. ... As a user of the SWIFT network and RITS operator, the Bank is compliant with SWIFT's
https://www.rba.gov.au/publications/fsr/2022/apr/box-c-building-resilience-to-cyber-risks.html
The Australian Financial System
10 Mar 2013
FSR
– March 2013
RITS continued to function smoothly during the past six months, settling around 5 million payments worth $19 trillion. ... The availability of sufficient liquidity is essential for the smooth operation of RITS.
https://www.rba.gov.au/publications/fsr/2013/mar/aus-fin-sys.html
List of graphs
10 Sep 2014
FSR
– September 2014
Graph 2.20 Multilateral Net Settlement in RITS.
https://www.rba.gov.au/publications/fsr/2014/sep/graphs.html
The Australian Financial System
21 Apr 2017
FSR
– April 2017
The Reserve Bank Information and Transfer System (RITS) – which is used by financial institutions to settle payments – processed around 6 million transactions in the six months to March, with an aggregate ... There were no major RITS operational
https://www.rba.gov.au/publications/fsr/2017/apr/aus-fin-sys.html
The Australian Financial System
10 Mar 2014
FSR
– March 2014
RITS continued to function smoothly over the past six months, settling around five million payments worth $19 trillion. ... The first assessment against the new standards, published in December 2013, concluded that RITS observed all the relevant
https://www.rba.gov.au/publications/fsr/2014/mar/aus-fin-sys.html
The Australian Financial System
10 Mar 2012
FSR
– March 2012
position. These multilateral net positions are then settled in RITS at around 9 am the next day. ... This will supplement the existing reporting of high-value payments incidents by RITS members.
https://www.rba.gov.au/publications/fsr/2012/mar/aus-fin-sys.html
Financial Stability Review March 2014
26 Mar 2014
FSR
March 2014
PDF
1956KB
https://www.rba.gov.au/publications/fsr/2014/mar/pdf/0314.pdf