Central Banking

Carney launches review into RTGS failure

Bank of England governor Mark Carney
Mark Carney

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

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: