The Reserve Bank of Australia has published its 2026 assessment of the Reserve Bank Information and Transfer System against the Principles for Financial Market Infrastructures. It found that RITS observed all relevant PFMI as of 31 March 2026 except Governance, Framework for the comprehensive management of risk and Operational risk, which were rated partly observed. The assessment says the RBA made progress during the period in strengthening governance, risk management and operational arrangements, but identified issues that require high-priority action. Work affecting RITS moved more slowly than expected at the time of the 2024 assessment as the external risk environment became more challenging. Governance was therefore downgraded to partly observed, reflecting the need to speed up RITS-specific governance enhancements rather than a deterioration from the previous assessment. The ratings for Framework for the comprehensive management of risk and Operational risk remained partly observed. The Payments System Board approved the assessment and expects key improvements to be delivered and embedded before the detailed assessment scheduled for March 2028. It will continue to monitor progress through regular updates from the Payments Policy Department.
Reserve Bank of Australia2026-06-19
Reserve Bank of Australia finds RITS partly observed on three PFMI principles in 2026 assessment
The Reserve Bank of Australia’s 2026 PFMI assessment found that RITS observed all relevant principles except Governance, Framework for the comprehensive management of risk and Operational risk, which were rated partly observed. Governance was downgraded because planned RITS-specific enhancements have progressed too slowly, while the other two ratings were unchanged. The Payments System Board expects key improvements to be in place before the March 2028 detailed assessment.