Search: SWIFT
RBA Glossary definition for SWIFT
SWIFT – Society for Worldwide Interbank Financial Telecommunication. A co-operative organisation that operates a network for the exchange of payment and other financial messages between financial institutions.
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Oversight of High-value Payment Systems
2 Oct 2013
PSB Annual Report
– 2013
In Australia, SWIFT is a core component for communication between important payment and settlement systems (i.e. ... In its capacity as a member of the SOF, the Bank receives SWIFT's annual self-assessment against the HLEs.
https://www.rba.gov.au/publications/annual-reports/psb/2013/oversight-high-value.html
Consultation on ISO 20022 Migration for the Australian Payments System
8 Apr 2019
Media Releases
Recently, SWIFT announced plans to cease ongoing support of some MT messages used for cross-border payments after November 2025 and migrate them to the ISO 20022 standard. ... SWIFT's end goal is to fully migrate all payments and reporting traffic to ISO
https://www.rba.gov.au/media-releases/2019/mr-19-09.html
Oversight of High-value Payments Systems
10 Sep 2012
PSB Annual Report
– 2012
SWIFT messaging is employed by more than 9,500 financial institutions globally, including many financial market infrastructures such as RITS. ... This new tier – the SWIFT Oversight Forum – comprises representatives from 25 central banks and monetary
https://www.rba.gov.au/publications/annual-reports/psb/2012/oversight-high-value.html
Payments System Regulation and Policy Issues
27 Sep 2023
PSB Annual Report
– September 2023
Payments System Regulation and Policy Issues | Payments System Board Annual Report – September 2023
https://www.rba.gov.au/publications/annual-reports/psb/2023/payments-system-regulation-and-policy-issues.html
4. Financial Market Infrastructures
21 Oct 2021
PSB Annual Report
– 2021
SWIFT provides critical messaging and connectivity services to both RITS and CLS, as well as other FMIs and market participants in Australia and overseas. ... The G10 central banks oversee SWIFT through the SWIFT Cooperative Oversight Group (OG).
https://www.rba.gov.au/publications/annual-reports/psb/2021/financial-market-infrastructures.html
List of tables | 2014 Assessment of the Reserve Bank Information and Transfer System
9 Mar 2023
RITS. 42. 162.7. 162.7. SWIFT payments (HVCS). 38.7. 100.5. 100.5. Debt securities (Austraclear). ... A broader group of central banks, including the Reserve Bank of Australia, are represented on the SWIFT Oversight Forum.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2014/tables.html
Oversight of High-value Payment Systems
24 Oct 2016
PSB Annual Report
– 2016
Consequently, the Bank participates in international cooperative arrangements that facilitate oversight of SWIFT. ... During 2015/16, cyber resilience has remained an important focus of SWIFT and its overseers.
https://www.rba.gov.au/publications/annual-reports/psb/2016/oversight-of-high-value-payment-systems.html
2019 Assessment of the Reserve Bank Information and Transfer System – Material Developments
9 Mar 2023
SWIFT Payment Delivery Service (PDS). Connectivity to the SWIFT PDS was restored just under five hours after the outage occurred. ... The assessment found the Bank to be fully compliant with the mandatory SWIFT controls.
https://www.rba.gov.au/payments-and-infrastructure/rits/self-assessments/2019/material-developments.html
5.5 Abbreviations
19 Oct 2023
RBA Annual Report
– 2023
TTBC. Trans-Tasman Council on Banking Supervision. SWIFT. Society for Worldwide Interbank Financial Telecommunication.
https://www.rba.gov.au/publications/annual-reports/rba/2023/abbreviations.html
Domestic Economic Conditions
5 Nov 2020
SMP
– November 2020
Statement on Monetary Policy – November 20203. Domestic Economic Conditions. A recovery in economic activity is underway across the country, but is proceeding at an uneven pace. Some industries remain constrained by mandated and voluntary social
https://www.rba.gov.au/publications/smp/2020/nov/domestic-economic-conditions.html