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.
Search Results
Payments System Issues: Exchange Settlement Account Policy
20 Mar 2018
Media Releases
The Reserve Bank has amended its Exchange Settlement Account policy to remove the requirement that all banks that use a settlement agent for real-time gross settlement transactions must maintain an ESA.
https://www.rba.gov.au/media-releases/2018/mr-18-06.html
Assessment of the Reserve Bank Information and Transfer System
12 Jun 2020
Media Releases
PFMI). The Assessment concludes that RITS ‘observed’ all relevant Principles as at 31 March 2020, other than Operational Risk, which was rated as ‘broadly observed’. ... RITS is Australia's high-value payments system, which is used by banks and
https://www.rba.gov.au/media-releases/2020/mr-20-16.html
Movement of Commonwealth Government Securities to the Austraclear System
25 Feb 2002
Media Releases
Members of the Reserve Bank Information and Transfer System (RITS) moved their portfolios totalling billion of Commonwealth Government Securities (CGS) from RITS to the Austraclear System, which is owned and operated by the SFE Corporation Limited.
https://www.rba.gov.au/media-releases/2002/mr-02-04.html
Payments System Board Update: February 2019 Meeting
25 Feb 2019
Media Releases
At its meeting on Friday 22 February 2019, the Payments System Board discussed a number of issues, including the annual assessment of CME Inc., the recent default at Nasdaq Nordic, a consultation on migration to ISO20022 message formats,
https://www.rba.gov.au/media-releases/2019/mr-19-03.html
Payments System Board Update: May 2020 Meeting
22 May 2020
Media Releases
At its meeting today, the Payments System Board discussed the impact of the COVID-19 pandemic on financial market infrastructures and the retail payments system, the Bank’s review of retail payments regulation, the annual assessment of Australia's
https://www.rba.gov.au/media-releases/2020/mr-20-14.html
Payments System Board Update: May 2019 Meeting
24 May 2019
Media Releases
The Bank's assessment of Australia's real-time gross settlement system – the Reserve Bank Information and Transfer System (RITS) – against the relevant international standards.
https://www.rba.gov.au/media-releases/2019/mr-19-13.html
Launch of the New Payments Platform
13 Feb 2018
Media Releases
Today, the Reserve Bank of Australia and its Payments System Board (PSB) welcome the public launch of the New Payments Platform (NPP).
https://www.rba.gov.au/media-releases/2018/mr-18-02.html
Commencement of Real-time Gross Settlement (RTGS)
16 Jun 1998
Media Releases
From 22 June 1998, the Reserve Bank will commence real-time gross settlement of all payments between Australian banks which are processed across the Reserve Bank Information and Transfer System (RITS)
https://www.rba.gov.au/media-releases/1998/mr-98-08.html
Payments System Issues
22 Sep 2009
Media Releases
Announcement of a short paper setting out the Payments System Board's proposal to change the regulation of interchange fees in the EFTPOS system and a draft Standard
https://www.rba.gov.au/media-releases/2009/mr-09-20.html
Media Releases – 1998
31 Dec 1998
Media releases
issued in 1998
https://www.rba.gov.au/media-releases/1998/