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 Financial System
10 Apr 2018
FSR
– April 2018
The Fast Settlement Service (FSS), a new component of RITS, facilitates the settlement of NPP payments on a 24/7 basis. ... RITS has exceeded its availability target over the past five years and in 2017 had only 15 minutes of downtime.
https://www.rba.gov.au/publications/fsr/2018/apr/australian-financial-system.html
The Australian Financial System
20 Oct 2017
FSR
– October 2017
These assessments have been completed for RITS and work is underway for the ASX clearing and settlement facilities. ... RITS recently updated its Business Continuity Standards for RITS members to specifically address cyber security.
https://www.rba.gov.au/publications/fsr/2017/oct/aus-fin-sys.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
20 Oct 2016
FSR
– October 2016
As a systemically important piece of market infrastructure, the Bank maintains a robust framework for the resilience of RITS. ... To ensure that RITS remains a highly secure system, projects are underway to review the system's resilience.
https://www.rba.gov.au/publications/fsr/2016/oct/aus-fin-sys.html
The Australian Financial System
13 Oct 2016
FSR
October 2016
PDF
469KB
https://www.rba.gov.au/publications/fsr/2016/oct/pdf/aus-fin-sys.pdf
Financial Stability Review October 2016
13 Oct 2016
FSR
October 2016
PDF
6509KB
https://www.rba.gov.au/publications/fsr/2016/oct/pdf/financial-stability-review-2016-10.pdf
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
Financial Stability Review April 2016
15 Apr 2016
FSR
April 2016
PDF
1859KB
https://www.rba.gov.au/publications/fsr/2016/apr/pdf/financial-stability-review-2016-04.pdf
The Australian Financial System
14 Apr 2016
FSR
April 2016
PDF
604KB
https://www.rba.gov.au/publications/fsr/2016/apr/pdf/aus-fin-sys.pdf
The Australian Financial System
20 Oct 2015
FSR
– October 2015
The Reserve Bank has initiated two projects to increase the resilience of the Reserve Bank Information and Transfer System (RITS) – Australia's wholesale payment system – to cyber threats:. ... that could improve RITS' resilience in this area and an
https://www.rba.gov.au/publications/fsr/2015/oct/aus-fin-sys.html