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The case for more CHAPS settlement banks - speech by Chris Salmon
In a speech delivered at a breakfast hosted by the Yorkshire and Humberside Network of the ifs School of Finance, Chris Salmon, Executive Director of Banking Services and Chief Cashier, explains why the Bank of England believes that the currently rather limited direct membership of CHAPS should expand.
Published on
05 July 2011
He reflects on the key design features of CHAPS and CREST, and why those features enabled the payment systems to operate reliably during the financial crisis. And he summarises a number of technical reforms for payment systems that the Bank is championing which will have benefits for financial stability.
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