2005 Self-assessment of the Reserve Bank Information and Transfer System Responsibility B

The central bank should ensure that the systems it operates comply with the Core Principles.

B.1 Assessment of Compliance

The Reserve Bank complies with this principle.

The Reserve Bank owns and operates RITS. The Reserve Bank conducted a preliminary assessment of RITS in the Payments System Board's 2000 annual report. The Bank has conducted a more detailed assessment using the framework developed by the International Monetary Fund (IMF) as part of the preparatory work for the IMF's Financial Sector Assessment Program assessment of Australia in 2005. In the judgement of the Reserve Bank, RITS complies with the Core Principles for Systemically Important Payment Systems.