BoE Consults on Extending RT2 and CHAPS Settlement Hours

BoE Consults on Extending RT2 and CHAPS Settlement Hours

The Bank of England has opened a consultation on a proposal to extend the settlement hours for its renewed Real-Time Gross Settlement (RT2) service and the CHAPS payment system.
This initiative, part of Phase 1 of wider reforms, aims to enhance the efficiency and accessibility of high-value payments in the UK financial system.
Extending operating hours could facilitate cross-border transactions and support innovation within the UK's financial infrastructure, aligning with efforts to strengthen London's position as a global financial hub.

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