Domestic
PAYMENTS SIGNAL · REFERENCE CARDA RITS settlement (Australia RTGS)
A high-value Australian dollar payment settles one-for-one across the banks' Exchange Settlement Accounts at the Reserve Bank of Australia, in real time and with finality.
Actors
- Bank Alfa (paying bank)bank
- RITS (Reserve Bank of Australia)infrastructure
- Reserve Bank of Australiainfrastructure
- Nordbank (receiving bank)bank
Messages
No standard message — a book / internal transfer.
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | Submit RTGS payment — Bank Alfa submits the payment to RITS | Bank Alfa → RITS | message |
| 2 | Check ESA balance — RITS checks Bank Alfa's ESA balance | RITS | internal |
| 3 | Gross settlement — The RBA settles the payment in real time | Bank Alfa → Nordbank | settlement |
| 4 | Settlement confirmation — Nordbank is advised the payment settled | RITS → Nordbank | message |
| 5 | Book incoming funds — Nordbank books the incoming funds | Nordbank | posting |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| ESA lacks funds — the payment queues | Bank Alfa's Exchange Settlement Account does not hold AUD 1,500,000.00 at the moment RITS checks it. | Not yet moved — Nordbank is paid only once Bank Alfa's ESA holds enough to settle the payment in full. · Settlement waited on liquidity — the payment stayed queued, not rejected, until the ESA was covered. | Bank Alfa — Bank Alfa manages its intraday liquidity so high-value payments do not sit in the RITS queue late in the day. |