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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Payments System Board Update: February 2024 Meeting
29 Feb 2024
Media Releases
Today’s Payments System Board meeting discussed the annual review of payment systems operating in Australia, the Advanced Encryption Standard (AES) migration, FMI regulatory reforms, payments regulatory reform, policy issues regarding mobile
https://www.rba.gov.au/media-releases/2024/mr-24-03.html
Appointment of Head of Payments Settlements Department
6 Nov 2023
Media Releases
Sarah Harris has been appointed to the position of Head of Payments Settlements at the Reserve Bank of Australia.
https://www.rba.gov.au/media-releases/2023/mr-23-29.html
Strengthening the RBA's Payments Infrastructure
30 May 2023
Media Releases
In January 2023, the Reserve Bank of Australia commissioned a comprehensive review of the operating environment supporting the Reserve Bank Information and Transfer System (RITS). This system is a critical part of Australias payments
https://www.rba.gov.au/media-releases/2023/mr-23-12.html
Payments System Board Update: May 2023 Meeting
25 May 2023
Media Releases
Today’s Payments System Board meeting discussed the Bank’s targeted self-assessment of Australia's real-time gross settlement system against the relevant international standards, the pricing of New Payments Platform services, competition in the
https://www.rba.gov.au/media-releases/2023/mr-23-11.html
December: 1997-Glossary
9 Mar 2023
Media Release
RITS. Reserve Bank Information and Transfer System. A system operated by the RBA primarily for the settlement of transactions in government securities. ... All foreign exchange transactions with the RBA are settled using RITS.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-e.html
December: 1997-Sample Questionnaire
9 Mar 2023
Media Release
System. Used for FX. Proportion own FX business (%). Proportion as correspondent (%). BITS payments. Austraclear cash transfers. RITS cash transfers. Paper items, such as interbank warrants and bank.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-b.html
December: 1997-Settlement Risk on Australian Dollar Transactions
9 Mar 2023
Media Release
6713. 21.9. Austraclear. 7726. 25.1. 7687. 25.1. RITS. 129. 0.4. 131. ... 15369. 49.9. 15303. 44.1. Austraclear. 15. 0.0. 15. 0.0. RITS. 69.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/settlement-risk-aus-dollar-transactions.html
Payments System Board Update: February 2023 Meeting
16 Feb 2023
Media Releases
Today’s Payments System Board meeting discussed ASX’s self-assessment against the Financial Stability Standards (FSS), the Bank’s framework for supervising payment system safety and resilience, payments system regulatory reform, the future of
https://www.rba.gov.au/media-releases/2023/mr-23-05.html
Final Incident Report – RBA Technology Outage on 12 October
28 Nov 2022
Media Releases
The Bank today released its Final Incident Report, RITS and FSS Incident - 12 October.
https://www.rba.gov.au/media-releases/2022/mr-22-40.html
Final Incident Report RITS and FSS Incident – 12 October 2022
25 Nov 2022
Media Release
PDF
146KB
Incident Report RITS and FSS Incident – 12 October 2022. November 2022 Page 1. ... 07:00 RITS RITS opened 30 minutes earlier without issue. 07:45 External Communication.
https://www.rba.gov.au/media-releases/2022/pdf/mr-22-40-final-incident-report-rits-and-fss-incident-12-october-2022.pdf