RBA Piles Pressure on ASX Amid Clearing Shortcomings
The Reserve Bank of Australia (RBA) has expressed ongoing concerns about ASX's clearing and settlement facilities, citing shortfalls in several areas, including governance and risk management.
Despite progress made during the year, the RBA stated that ASX still fails to meet expectations in 'several important areas', according to its 2026 assessment of the exchange's facilities.
The RBA identified shortcomings in governance arrangements, comprehensive risk management, credit risk, and operational risk. Austraclear, ASX's debt securities settlement facility, was rated 'partly observed' against operational risk standards.
The RBA emphasized that ASX is undergoing a period of substantial organizational change to address these deficiencies, but has not specified a timeline for achieving improvements.