The Payments Systems Board reviewed ASX's (ASX:ASX) plans to ensure the current Clearing House Electronic Subregister System (CHESS) is operated, maintained, and supported as a critical financial market infrastructure, according to a Thursday statement from the Reserve Bank of Australia.

The board endorsed the central bank's assessment of the ASX clearing and settlement facilities against the Financial Stability Standards, noting that ASX made limited progress in addressing the central bank's fundamental concerns in relation to operational resilience and risk management over the past year.

The assessment will be published after it has been provided to ASX, the Treasurer, and the Australian Securities and Investments Commission.

The board agreed on further regulatory steps to ensure the CHESS Replacement is designed with an appropriate level of resilience for critical financial market infrastructure.