Central Banking

UK’s Chaps and Crest to close later from ‘summer 2016’

Bank of England

The settlement day for the UK's high-value payment system, Chaps, and securities settlement system, Crest, will be extended in around a year's time, the Bank of England (BoE) said today (July 23).

It will be extended by an hour and forty minutes, to 18:00, in an effort to align it with the business hours of the systems' users. The change will take effect in "summer 2016"; an exact date will be confirmed by the end of August.

"Extending the settlement day will provide greater flexibility to busin

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

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: