We have implemented workarounds to enable the Bank to operate as normal, including completing wholesale transactions in as timely a way as possible. We are working to resolve the underlying issue as quickly as we can.
This issue is not affecting the real-time gross settlement (RTGS) service or the CHAPS system, so the general public will see no impact on any of their banking services.
We will provide a further update on this in the morning.
Bank of England statement: IT issues update - 26 January 2018