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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

Property Settlement in RITS

18 Mar 2021 Bulletin – March 2021
Gabrielle De Freitas and Emilie Fitzgerald
Property transactions are among the largest and most significant financial undertakings that many Australians enter into.
https://www.rba.gov.au/publications/bulletin/2021/mar/property-settlement-in-rits.html

2.3 Banking and Payment Services

19 Oct 2023 RBA Annual Report – October 2023
Banking and Payment Services | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/banking-and-payment-services.html

Real-time Gross Settlement in Australia

10 Sep 2010 Bulletin – September 2010
Peter Gallagher, Jon Gauntlett and David Sunner
RITS also employs a number of liquidity-saving mechanisms that help avoid gridlock. ... During the Morning Settlement Session, only RITS and interbank Austraclear payments can be settled.
https://www.rba.gov.au/publications/bulletin/2010/sep/8.html

3.3 Risk Management

19 Oct 2023 RBA Annual Report – October 2023
Risk Management | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/risk-management.html

At a Glance

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

List of tables

13 Sep 2007 PSB Annual Report – 2007
analyses possible conflict of laws and potential legal risk for RITS and its participants. ... Response: The RBA now holds RITS User Group Forums in Sydney and Melbourne twice each year.
https://www.rba.gov.au/publications/annual-reports/psb/2007/tables.html

The Evolution of Interbank Settlement in Australia

17 Mar 2022 Bulletin – March 2022
Kasia Kopec and Chirag Rao
Electronic payments are ubiquitous in modern economies and result in financial obligations between different financial institutions.
https://www.rba.gov.au/publications/bulletin/2022/mar/the-evolution-of-interbank-settlement-in-australia.html

5.5 Abbreviations

19 Oct 2023 RBA Annual Report – 2023
FSS. Fast Settlement Service (of RITS). FTE. full-time equivalent. FX. foreign exchange. ... RDP. Research Discussion Paper. repo. repurchase agreement. RITS. Reserve Bank Information and Transfer System.
https://www.rba.gov.au/publications/annual-reports/rba/2023/abbreviations.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

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