Information regarding claims for losses received by the Bank of England in relation to the failure of the Real Time Gross Settlement system on 20 October 2014

We publish details of a selection of requests made under the Freedom of Information Act 2000, and the information we disclose in response.

Subject/Request Details:   1) How many claims for losses has the Bank of England (the ‘Bank’) received in relation to the failure of the Real Time Gross Settlement system on 20 October 2014?  2) What was the total amount claimed?  3) What was the value of the claims that the Bank has agreed to meet?  4) What was the value of the provision that the Bank set aside to meet such claims?’

Date released:  25 March 2015

Disclosure:

Information regarding the claims for losses received by the Bank in relation to the failure of the Real Time Gross Settlement system on 20 October 2014 is available on page 7 in the Deloitte report ‘Independent Review of RTGS Outage on 20 October 2014’, and also page 3 of the Bank’s response to the Deloitte report dated 25 March.

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