Carney launches review into RTGS failure
Inquiry will cover the cause of the problem and the BoE’s response
Mark Carney has launched a review of the "disruption" that forced the closure of the Bank of England's (BoE) real-time gross settlement (RTGS) system for several hours yesterday.
An unspecified "technical issue" meant the system – used for settling high-value payments – was unable to process payments made though the Clearing House Automated Payment System (Chaps).
The central bank resorted to processing the "most important" payments manually throughout the day, until – at around 16:00 – the RTGS
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on FMI
BIS project aims to redesign global payments infrastructure
“Most ambitious” innovation hub project to date will test BIS’s “unified ledger” concept
Central banks, FMIs and the ‘green’ agenda
Collective efforts are needed to transform the environmental footprint of payment networks, writes Biagio Bossone
BoE wants stablecoins fully backed with central bank deposits
Systemic stablecoins would have to back issuance with unremunerated deposits
CPMI seeks better governance of fast payment links
Committee embarking on project to build supporting framework for FPS links
CPMI pushes for harmonised cross-border payments data
Launch of minimum standards aims to tackle risk of inconsistent ISO 20022 messaging
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
FSB proposes global standard to tackle failed CCPs
Report warns authorities not to rely on any single tool but adopt a “toolbox approach”
Vietnam joins South-east Asian cross-border payment bloc
Six Asian central banks have joined forces to build faster and cheaper cross-border payments
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- Central bank of the year: Central Bank of Brazil