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
Reform of Interbank Payments - A Proposal for Implementing Real Time Gross Settlement in Australia
5 Apr 1995
Media Releases
Some enhancements to RITS functions for queueing and reporting would also be appropriate. ... Customer-initiated payments (eg purchase of bonds by a non-bank member of RITS).
https://www.rba.gov.au/media-releases/1995/mr-95-05-attach-2.html
Reform of Interbank Payments: RTGS Business Specifications
31 Aug 1995
Media Releases
Announces the release of draft business specifications for the (RTGS) system
https://www.rba.gov.au/media-releases/1995/mr-95-13.html
Changes to the Reserve Bank's Domestic Market Operations in the Transition Phase to Real-time Gross Settlement
9 May 1996
Media Releases
Announces changes to the RBA's Domestic Markets Operations to be introduced in June to August 1986
https://www.rba.gov.au/media-releases/1996/mr-96-06-info-paper.html
Reform of Interbank Payments
5 Apr 1995
Media Releases
Announces that after consulting with the banks and the Australian Payment Clearing Association (APCA), the RBA is now presenting a case for moving to a Real-time Gross Settlement (RTGS) payments system and proposes a means of achieving this
https://www.rba.gov.au/media-releases/1995/mr-95-05-attach-1.html
December: 1997-Settlement Risk on Australian Dollar Transactions
9 Mar 2023
Media Release
6713. 21.9. Austraclear. 7726. 25.1. 7687. 25.1. RITS. 129. 0.4. 131. ... 15369. 49.9. 15303. 44.1. Austraclear. 15. 0.0. 15. 0.0. RITS. 69.
https://www.rba.gov.au/media-releases/1997/mr-97-22-fxsp/settlement-risk-aus-dollar-transactions.html