Update on RTGS at 9.55pm
RTGS closed at 20:00 hrs (BST). All 142,759 payments submitted to RTGS today before the extended deadline have now been processed. The Bank has put in place extra steps to monitor the system at the start of the day tomorrow when RTGS will open at 06:00 hrs (BST) as usual. The Bank apologises for any problems caused by the delays to the settlement of payments today and has launched a thorough, independent review of the incident.
Independent review into RTGS payment system disruption - update at 7:15pm
The Governor of the Bank of England, Mark Carney, has launched a thorough, independent review of the causes of today’s disruption to RTGS, the Bank's system for settling high value payments. The review will cover the causes of the incident, the effectiveness of the Bank’s response and the lessons learned for future contingency plans. Its findings will be presented to Court which will then publish the full report and the response.
RTGS issue resolved - update at 4.10pm
The Bank of England confirms it is now processing payments through RTGS as normal. We have extended opening hours until 20:00 hrs (BST) to maximise the opportunity for settlement.
Update at 11.20am
The Bank of England has identified a technical issue related to some routine maintenance of the RTGS payment system and has paused settlement while we resolve it. We are working to address this issue as quickly as possible, and restart the RTGS payment system in a controlled manner. The most important payments are being made manually and we can reassure the public that all payments made today will be processed.|