The Payments System Board convened today to discuss several key topics, focusing on the New Payments Platform (NPP), regulatory reforms, and improvements in payment systems.
The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) have released a consultation paper titled Project Acacia, which aims to gather industry feedback on digital money's role in wholesale tokenised asset...
The Bank for International Settlements (BIS) and its central bank partners have demonstrated that regulatory compliance can be integrated into cross-border transaction protocols through Project Mandala.
The Reserve Bank of Australia (RBA) has initiated a review into Retail Payments Regulation, focusing on the costs merchants incur when accepting card payments and the surcharging framework. The RBA has released an Issues Paper and is inviting stakeholders to provide detailed feedback on the current regulatory framework, as well as suggest potential regulatory responses. This input will be vital in shaping future reforms aimed at ensuring a safe and efficient payments system.
The Reserve Bank Board has released its review of the Term Funding Facility, as announced today by the Bank. This review is part of a broader examination of monetary policies adopted in response to the pandemic. The objective is to maintain transparency and openness about the experiences and lessons learned.
The Reserve Bank of Australia has released its 2024 Assessment of the ASX Clearing and Settlement (CS) Facilities. This evaluation measures the performance of the ASX CS Facilities against the Bank's Financial Stability Standards (FSS).
The Reserve Bank Board has decided to keep the cash rate target unchanged at 4.35 percent and the interest rate on Exchange Settlement balances steady at 4.25 percent.
The Reserve Bank of Australia (RBA) and Treasury today released a report summarizing research to date on central bank digital currency (CBDC) and how this has informed the RBA and Treasury's current assessment of CBDC issues in Australia. The report also sets out a three-year roadmap for future work on digital money in Australia.
The Reserve Bank Board announced today that it has decided to maintain the cash rate target at 4.35 percent and the interest rate on Exchange Settlement balances at 4.25 percent.
Dr. Michael Plumb has been appointed as Head of Economic Analysis at the Reserve Bank of Australia (RBA). He will assume the position on August 20, 2024, and will report to Sarah Hunter, Assistant Governor (Economic).
Following a public consultation, the Reserve Bank of Australia (RBA) has decided to increase the settlement activity threshold under the Financial Stability Standards for Securities Settlement Facilities (SSF Standards). This move aims to balance the risks posed by small firms to the financial system and the regulatory burden imposed on them. The review of the settlement activity threshold in the SSF Standards was initiated following the Payments System Board’s meeting in November 2023.
The Reserve Bank Board has announced its decision to maintain the cash rate target at 4.35 percent and the interest rate on Exchange Settlement balances at 4.25 percent.
The Bank today released the 2024 Assessment of the Reserve Bank Information and Transfer System (RITS) against the Principles for Financial Market Infrastructures (PFMI). The assessment concludes that RITS observed all relevant PFMI as of March 31, 2024, except for the principle on governance, which it broadly observed, and the principles on the framework for the comprehensive management of risk and operational risk, which were both partly observed. The assessment concludes that to fully observe all of the PFMI, the program of work established following the Bank’s 2022...
The Reserve Bank of Australia has released the schedule for its board meetings and the Statement on Monetary Policy for 2025. The outcomes of these meetings will be announced at 2:30 pm on the second day of each board meeting, followed by a media conference hosted by the Governor at 3:30 pm.
The Reserve Bank Board has announced its decision to maintain the cash rate target at 4.35 per cent and the interest rate paid on Exchange Settlement balances at 4.25 per cent. In a statement released on May 7, 2024, the Board highlighted the current economic conditions and uncertainties moving forward."Inflation remains high and is falling more gradually than expected," the Board stated. The Consumer Price Index (CPI) grew by 3.6 per cent over the year to the March quarter, with underlying inflation higher than headline inflation. Services inflation, in particular,...
The Reserve Bank of Australia (RBA) has recently released a report focusing on the advantages and obstacles of connecting fast payment systems internationally for cross-border payments. According to the report, linking these systems has the potential to enhance the speed and transparency of cross-border transactions, benefiting both users and service providers.The report emphasizes the significance of well-designed governance, scheme rules, and payment processing capabilities in managing risks and ensuring a smooth cross-border payments experience. However, challenges...