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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

Material Developments | 2017 Assessment of the Reserve Bank Information and Transfer System

9 Mar 2023
The RITS Regulations form the legal basis for all material aspects of RITS. ... The RITS Membership Agreement binds RITS members and the Bank to the RITS Regulations.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2017/material-developments.html

2018 Assessment of the Reserve Bank Information and Transfer System – Material Developments

9 Mar 2023
The RITS Regulations form the legal basis for all key aspects of RITS. ... The RITS Membership Agreement binds RITS members and the Bank to the RITS Regulations.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2018/material-developments.html

At a Glance

28 Sep 2022 PSB Annual Report – 2022
https://www.rba.gov.au/publications/annual-reports/psb/2022/

Appendix A: Background Information | 2022 Assessment of the Reserve Bank Information and Transfer System

9 Mar 2023
A.3 Governance and Oversight. RITS is owned and operated by the Bank. ... RITS also has features that allow members to efficiently manage and conserve liquidity.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2022/appendix-a.html

General Background | 2013 Self-assessment of the Reserve Bank Information and Transfer System

9 Mar 2023
General Background. Download the complete Document 1.3. MB. RITS is Australia's RTGS system. ... RITS was developed to address the settlement risk associated with high-value interbank payments.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2013/background.html

Assessment of the Reserve Bank Information and Transfer System - June 2022

12 Sep 2023 PDF 870KB
manner. • the impact of staff resourcing challenges on management of RITS operational risk. • ... RITS is owned and operated by the Reserve Bank of Australia (the Bank).
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2022/pdf/2022-assessment-rits.pdf

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

1.1 Our Role

19 Oct 2023 RBA Annual Report – October 2023
Our Role | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/our-role.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

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 Australia’s payments
https://www.rba.gov.au/media-releases/2023/mr-23-12.html