RBA 2024 Assessment of RITS Highlights Key Improvements Needed

The Reserve Bank of Australia (RBA) released its 2024 Assessment of the Reserve Bank Information and Transfer System (RITS). The report indicates RITS observed most of the Principles for Financial Market Infrastructures (PFMI), with some partial observations on governance, risk management, and operational risk. The Payments System Board (PSB) expects significant progress on these recommendations before the 2026 detailed assessment.

For more details, check out the full media release https://www.rba.gov.au/media-releases/2024/mr-24-11.html

Author: Mr.Oz

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