[lmz]

> lets banks settle the total amount of processed transactions, thus leaving out any details of particular transactions

This is the definition of a Net settlement scheme (multiple transactions are combined at end of a period, resulting in only the net changes being transferred), not a Gross settlement scheme.

[lxgr]

FedACH is a net settled scheme, but even then, the operator of such a scheme usually has visibility into individual payments (unless participating banks settle everything bilaterally and there is no central operator/hub).

[lmz]

I was merely clarifying their use of "RTGS" vs their textual description of it.