Working group minutes: a phased approach to 24/7 RTGS
Longer hours imply risk trade-offs and need to overcome resistance from banking industry
Several central banks are preparing a phased approach to transitioning their real-time gross settlement (RTGS) systems to round-the-clock operations, as they weigh potential trade-offs.
Payments specialists who attended Central Banking’s in-person interbank working group in London on June 12 said that, in many cases, their systems were already technologically ready for 24/7 operations. However, the move implied potential operational and financial stability risks that needed careful consideration
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