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
Real-time Gross Settlement in Australia
10 Sep 2010
Bulletin
– September 2010
RITS also employs a number of liquidity-saving mechanisms that help avoid gridlock. ... During the Morning Settlement Session, only RITS and interbank Austraclear payments can be settled.
https://www.rba.gov.au/publications/bulletin/2010/sep/8.html
Operational Structure
30 Aug 2023
as well as operation of the Reserve Bank Information and Transfer System (RITS), Australia's real-time gross settlement system (RTGS). ... RITS includes the Fast Settlements Service, which Payments Settlements Department operates on an RTGS basis 24
https://www.rba.gov.au/about-rba/structure/operational.html
At a Glance
28 Sep 2022
PSB Annual Report
– 2022
https://www.rba.gov.au/publications/annual-reports/psb/2022/
Strengthening the RBA's Payments Infrastructure
30 May 2023
Media Releases
In January 2023, the Reserve Bank of Australia commissioned a comprehensive review of the operating environment supporting the Reserve Bank Information and Transfer System (RITS). This system is a critical part of Australias payments
https://www.rba.gov.au/media-releases/2023/mr-23-12.html
2019 Assessment of the Reserve Bank Information and Transfer System – Material Developments
9 Mar 2023
review the range of RITS endpoint security risks and how these are currently mitigated. ... LCH settles AUD transactions, typically variation margin payments, across its ESA in RITS.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2019/material-developments.html
Final Incident Report – RBA Technology Outage on 12 October
28 Nov 2022
Media Releases
The Bank today released its Final Incident Report, RITS and FSS Incident - 12 October.
https://www.rba.gov.au/media-releases/2022/mr-22-40.html
Enhanced Batch Processing in RITS – January 2020
9 Mar 2023
This information paper describes the enhanced batch entry and processing functionality in RITS. The intended audience includes prospective Batch Administrators and participant banks in Batch Streams using the enhanced functionality. The new
https://www.rba.gov.au/payments-and-infrastructure/rits/information-papers/enhanced-batch-processing-in-rits/
Payments System Board Update: February 2024 Meeting
29 Feb 2024
Media Releases
Today’s Payments System Board meeting discussed the annual review of payment systems operating in Australia, the Advanced Encryption Standard (AES) migration, FMI regulatory reforms, payments regulatory reform, policy issues regarding mobile
https://www.rba.gov.au/media-releases/2024/mr-24-03.html
Material Developments | 2022 Assessment of the Reserve Bank Information and Transfer System
9 Mar 2023
Following this assessment, the Bank developed enhanced security standards for RITS members, which were included in the. ... Area of oversight focus. Payments Policy Department will monitor the impact of staff resourcing challenges on RITS.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2022/material-developments.html
List of tables
13 Sep 2007
PSB Annual Report
– 2007
analyses possible conflict of laws and potential legal risk for RITS and its participants. ... Response: The RBA now holds RITS User Group Forums in Sydney and Melbourne twice each year.
https://www.rba.gov.au/publications/annual-reports/psb/2007/tables.html