Payment systems replacement

The RBNZ has announced a go live date of Monday the 24th of February – to take our ESAS and NZClear into their new versions.

We have the mandate and assurance from all our members, our internal teams, the PSR Steering Committee and the RBNZ Senior Leadership team.

Significant work is still required until then as we plan weekly dress rehearsals in the countdown to go live.

 Last updated: 3 December 2019

 

Payment systems replacement member information

Background

The Reserve Bank conducted a strategic review of ESAS and NZClear in 2013/14.  As a result of the strategic review and industry feedback, the Bank decided that it must continue to own and operate ESAS, given that ESAS is central to New Zealand’s financial systems and the Reserve Bank’s statutory functions. The Reserve Bank has chosen to retain the NZ Clear business after a divestment process attracted no sufficiently compelling commercial bids.

Software Update

The ESAS Account holders have completed Industry Acceptance testing.

NSI Testing is completed.

NZClear Testing is Completed

SWIFT production tests have been completed

Infrastructure Update

Our infrastructure build tasks have been completed.

Industry Engagement update

ESAS Training is complete

NZClear Training is complete

Industry key dates

November 2019

Members wrote to RBNZ confirming their readiness to go live in February 2019.

November 2019

Implementation workshops were held in Wellington, Online, Auckland, Melbourne and Sydney to walk through the detailed implementation plan.

October 2019

NZClear Testing Concluded for members

September 2019

Governor Adrian Orr wrote to each member Chief Executive, thanking them for their efforts to date, the importance of the whole industry being ready at the same time, and upcoming key dates.

June 2019

NZClear Testing started for members

May 2019

NZClear e-Learning completed

April 2019

NSI Testing completed.

February 2019

NSI Swift Interface Testing completed with members.

January 2019

ESAS Industry Acceptance testing concludes.

December 2018

Training for testers and trainers concludes.

November 2018

ESAS Industry acceptance Testing concludes Swift Standards 2018 go live.

October 2018

Training for testers and trainers start.

September 2018

Member On boarding complete for ESAS.

August 2018

Operational Impact Assessment Training.

July 2018

NZClear Familiarisation Sessions.

Account detail and technical contacts requested as a data capture survey.

Member and Account holder onboarding commences.

June 2018

ESAS Familiarisation Sessions