LONDON, Feb 24 (Reuters) - The Bank of England said on Tuesday that it plans to move forward the start time for its CHAPS system for high-value interbank payments to 1:30 a.m. from 6:00 a.m. from
Bank of England Moves CHAPS Start to 1:30 a.m., Extends Operating Day
Earlier Start to 1:30 a.m.
CHAPS Operating Hours Update
LONDON, Feb 24 (Reuters) - The Bank of England said on Tuesday that it plans to move forward the start time for its CHAPS system for high-value interbank payments to 1:30 a.m. from 6:00 a.m. from September 2027 onwards.
Evening Settlement Deferred
Optional Participation for Banks
The BoE said that participation in the earlier start to settlement times would be optional for banks and that it would not go ahead for now with evening settlement while it works on longer-term proposals for 24-hour-a-day settlement.
Report Credits
(Reporting by David Milliken; editing by Sarah Young)
