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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Introduction | ISO 20022 Migration for the Australian Payments System – Responses and Options Paper – September 2019
31 Dec 2002
Consultations
Respondents represented a diverse range of payments system users, comprising about a third that are Reserve Bank Information and Transfer System (RITS) Members directly using the New Payments Platform (NPP) and ... RITS Fast Settlement Service (FSS),
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/introduction.html
The Environment for Innovation in the Australian Payments System | Strategic Review of Innovation in the Payments System: Issues for…
7 Jun 2011
Consultations
Settlement of interbank obligations arising from the payments system ultimately occurs across exchange settlement accounts (ESAs) of direct participants in RITS. ... In the period immediately ahead, RITS will also have the capacity to settle bilaterally
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/environment-innovation-australian.html
Governance | ISO 20022 Migration for the Australian Payments System – Responses and Options Paper – September 2019
31 Dec 2002
Consultations
In addition to these representatives, the steering committee could potentially include: an independent chairperson; a representative from AusPayNet, a representative from the RBA's Payments Settlements Department (responsible for RITS) and
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/governance.html