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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Payments System Board Update: February 2020 Meeting
21 Feb 2020
Media Releases
Today’s Payments System Board meeting discussed the results from the Bank’s 2019 Consumer Payments Survey, the Review of Retail Payments Regulation, adoption of the new ISO 20022 messaging standards and proposed regulatory reforms for financial
https://www.rba.gov.au/media-releases/2020/mr-20-03.html
Strategic Review of Innovation in the Payments System
7 Jun 2012
Media Releases
The Reserve Bank has released the conclusions of its Strategic Review of Innovation in the Payments System
https://www.rba.gov.au/media-releases/2012/mr-12-14.html
Measures to Enhance the Functioning of Financial Markets
24 Sep 2008
Media Releases
Announces that the Reserve Bank of Australia is introducing a foreign exchange swap facility with the Federal Reserve and a domestic term deposit facility which are designed to contribute to the smooth functioning of domestic markets
https://www.rba.gov.au/media-releases/2008/mr-08-15.html
Same-day Settlement of Direct Entry Payments
25 Nov 2013
Media Releases
Starting from 25 November, the settlement of Direct Entry (DE) obligations between payments system participants is occurring on a same-day, rather than next-day, basis
https://www.rba.gov.au/media-releases/2013/mr-13-24.html
Cash Rate Total Return Index
9 May 2016
Media Releases
The Reserve Bank of Australia has commenced publishing a Cash Rate Total Return Index (TRI), which members of the public can use as a benchmark with a risk-free rate of return.
https://www.rba.gov.au/media-releases/2016/mr-16-12.html
December: 1997-Glossary
9 Mar 2023
Media Release
RITS. Reserve Bank Information and Transfer System. A system operated by the RBA primarily for the settlement of transactions in government securities. ... All foreign exchange transactions with the RBA are settled using RITS.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-e.html
Changes to the Reserve Bank's Dealing Arrangements and the Prime Assets Requirements (PAR)
10 Jun 1997
Media Releases
Announcement of changes to the Reserve Bank's dealing arrangements and the Prime Assets Requirement (PAR)
https://www.rba.gov.au/media-releases/1997/mr-97-11.html
December: 1997-Sample Questionnaire
9 Mar 2023
Media Release
System. Used for FX. Proportion own FX business (%). Proportion as correspondent (%). BITS payments. Austraclear cash transfers. RITS cash transfers. Paper items, such as interbank warrants and bank.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/annex-b.html
Payments System Issues
29 Nov 2012
Media Releases
At its 16 November meeting, the Payments System Board approved a report setting out its conclusions from an informal consultation on operational incidents in retail payments systems. The Board also concluded its review of the regulatory framework
https://www.rba.gov.au/media-releases/2012/mr-12-35.html
Real-time Gross Settlement (RTGS) – Liquidity
6 May 1997
Media Releases
The Reserve Bank will stand ready to provide intra-day liquidity to banks and others with Exchange Settlement Accounts, to ensure that payments flow smoothly. This liquidity will take the form of within-day repurchase agreements in Commonwealth
https://www.rba.gov.au/media-releases/1997/mr-97-08.html