Search: RITS

Sort by: Relevance Date
1–10 of 13 search results for 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

Central Clearing of OTC Derivatives in Australia: A discussion paper issued by the Council of Financial Regulators – 2011 | Consultations

7 Jun 2011 Consultations
REFORMS: Credit Cards; Debit Cards; The ATM System; ATM Fee Reforms; Review of Card Payment Systems Reforms; Account Switching; POLICY FRAMEWORK: Payments System Board; Core Principles for Systemically Important Payment Systems; Standards for
https://www.rba.gov.au/publications/consultations/201106-otc-derivatives/

Review of Card Surcharging: A Consultation Document | Consultations

7 Jun 2011 Consultations
REFORMS: Credit Cards; Debit Cards; The ATM System; ATM Fee Reforms; Review of Card Payment Systems Reforms; Account Switching; POLICY FRAMEWORK: Payments System Board; Core Principles for Systemically Important Payment Systems; Standards for
https://www.rba.gov.au/publications/consultations/201106-review-card-surcharging/

Migration Approach | ISO 20022 Migration for the Australian Payments System – Responses and Options Paper – September 2019

31 Dec 2002 Consultations
The RBA will not perform translation of any messages in RITS. ... For the HVCS and batch migrations to ISO 20022, the main potential impact is to the reporting that RITS provides to ESA holders, as these may contain details of settlements that
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/migration-approach.html

Glossary | ISO 20022 Migration for the Australian Payments System – Issues Paper – April 2019

31 Dec 2002 Consultations
IBAN. International Bank Account Number. Interbank settlement. Settlement of payment obligations across ESAs in RITS/FSS. ... LVSS. Low Value Settlement Service. A RITS service used for the lodgement of settlement instructions for obligations arising in
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/glossary.html

Project Scope | ISO 20022 Migration for the Australian Payments System – Responses and Options Paper – September 2019

31 Dec 2002 Consultations
the HVCS, which will continue to run as a separate clearing system using the SWIFT InterAct service with settlement occurring in RITS. ... Migration of the RITS AIF service from MT to ISO 20022 messaging will be managed independently from the industry
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/project-scope.html

Strategic Issues – Payment System Design | ISO 20022 Migration for the Australian Payments System – Issues Paper – April 2019

31 Dec 2002 Consultations
Under the Y-Copy service, RITS receives no information about the sending or receiving customer. ... Under this model, the full payment message, including customer information, is received by RITS.
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/strategic-issues-payment-system-design.html

Strategic Issues – Scope of Migration | ISO 20022 Migration for the Australian Payments System – Issues Paper – April 2019

31 Dec 2002 Consultations
Settlement of clearing obligations occurs in the RBA's settlement systems, either via RITS or the RITS FSS (Figure 1). ... These payments are bilaterally cleared using the SWIFT PDS between HVCS members and settled line by line in RITS.
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/strategic-issues-scope-of-migration.html

ISO 20022 Migration | ISO 20022 Migration for the Australian Payments System – Issues Paper – April 2019

31 Dec 2002 Consultations
The Reserve Bank Information and Transfer System (RITS) Automated Information Facility (AIF), which is used by RITS members for liquidity management and statement provision. ... RITS Batch settlement arrangements that use SWIFT MT messaging (i.e.
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/iso-20022-migration.html

Glossary | ISO 20022 Migration for the Australian Payments System – Responses and Options Paper – September 2019

31 Dec 2002 Consultations
Glossary. Term. Definition. AIF. Automated Information Facility. An automated messaging service used by ESA holders to send and receive messages from RITS to perform credit and liquidity management and to receive ... LVSS. Low Value Settlement Service. A
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/glossary.html

Innovation Gaps in the Australian Payments System | Strategic Review of Innovation in the Payments System: Issues for Consultation June…

7 Jun 2011 Consultations
As RITS is geared to processing a relatively small number of high-value payments, this would require changes to the RITS infrastructure, to build a high-volume messaging system which would ... pass interbank settlement positions to RITS on a near
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/innovation-gaps.html