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
Material Developments | 2017 Assessment of the Reserve Bank Information and Transfer System
9 Mar 2023
The RITS Regulations form the legal basis for all material aspects of RITS. ... The RITS Membership Agreement binds RITS members and the Bank to the RITS Regulations.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2017/material-developments.html
Assessment of the Reserve Bank Information and Transfer System
15 Jun 2022
Media Releases
The Bank today released the 2022 Assessment of the Reserve Bank Information and Transfer System (RITS) against the Principles for Financial Market Infrastructures (PFMI).
https://www.rba.gov.au/media-releases/2022/mr-22-15.html
Material Developments | 2014 Assessment of the Reserve Bank Information and Transfer System
9 Mar 2023
The FSS will be a RITS service, owned and operated by the Bank. ... Accordingly, the recycling of liquidity in RITS is not likely to be materially affected.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2014/material-developments.html
Reviews
1 May 2024
Independent reviews of the Reserve Bank and its operations.
https://www.rba.gov.au/payments-and-infrastructure/rits/reviews/
Assessment of the Reserve Bank Information and Transfer System
16 Jun 2021
Media Releases
The Assessment discusses work underway to support the continued operational stability of RITS and to strengthen the oversight of external contractors conducting maintenance on critical infrastructure. ... The Assessment also recommends improvements to
https://www.rba.gov.au/media-releases/2021/mr-21-11.html
Technology Outage
13 Oct 2022
Media Releases
The Reserve Bank experienced a system issue yesterday evening which impacted the Fast Settlement Service (FSS) and the Low Value Clearing and Settlement Services (LVCS and LVSS).
https://www.rba.gov.au/media-releases/2022/mr-22-34.html
March | 2022
17 Mar 2022
Bulletin
Insights into the economy and financial system from teams throughout the Reserve Bank of Australia
https://www.rba.gov.au/publications/bulletin/2022/mar/
Financial Market Infrastructures
28 Sep 2022
PSB Annual Report
– September 2022
Reserve Bank Information and Transfer System (RITS) – RITS is Australias high-value payment system. ... Summary of Assessment of RITS. RITS is Australias high-value payments system, which is used by banks and other approved institutions to settle their
https://www.rba.gov.au/publications/annual-reports/psb/2022/financial-market-infrastructures.html
Appendix A: Background Information | 2020 Assessment of the Reserve Bank Information and Transfer System
9 Mar 2023
A.3 Governance and Oversight. RITS is owned and operated by the Bank. ... RITS also has features that allow members to efficiently manage and conserve liquidity.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2020/appendix-a.html
Material Developments | 2021 Assessment of the Reserve Bank Information and Transfer System
9 Mar 2023
While the incident affected the availability of RITS, RITS still achieved an average system availability of 99.958 per cent in 2020, consistent with the Bank's key operational availability target ... of Bank staff and the reliability of Bank operations,
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2021/material-developments.html