Central Banking

BoE suffers transaction-processing glitch

Bank of England night Getty 174788162
Bank of England: staff had to process several transactions manually overnight

Staff at the Bank of England spent the night processing several wholesale transactions manually and scrambling to correct the “IT issues” that caused the disruptions.

The central bank says a “regular internal IT update” led to “intermittent technology communication problems” on the evening of January 25. The issue affected large end-of-day wholesale transactions with some banking counterparties.

“We have implemented workarounds to enable the bank to operate as normal, including completing

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