RTGS Renewal Programme news

Latest news from the RTGS Renewal Programme, alongside our key milestones.

News and publications

We are delighted to announce that we have appointed Accenture as Technology Delivery Partner for the RTGS Renewal Programme.

We will be hosting our second Industry Event of the year on 12 October 2020 for senior members of the payments industry.

Register your interest and find out more.

Latest news

 

Speeches and publications from the Senior Leadership Team

As part of their regular speaking engagements, senior representatives of the Bank of England have been spreading the message about RTGS Renewal. Please click on the following links to read a selection of these speeches in full.

What's happened

July 2020

Accenture appointed as Technology Delivery Partner for the Programme.

This follows a public procurement process which commenced in February 2019.

July 2020

Industry Review of the CHAPS enhanced ISO 20022 messages published

We published an Industry Review of the CHAPS enhanced ISO 20022 messages to seek detailed feedback on the near-final enhanced ISO 20022 message schema and our work so far to progress the policy objectives that will be delivered via ISO 20022 messaging such as Legal Entity Identifiers and Purpose Codes. We are currently reviewing feedback and will publish the final enhanced messages in September 2020.

January 2020

RTGS Renewal Programme sets up new working groups for CHAPS Direct Participants

The Programme has set-up industry working groups for CHAPS Direct Participants to support industry readiness work. These groups bring together expertise from the industry to better understand risk management, testing and business or technical change. The groups will continue to meet on a quarterly basis throughout 2020.

December 2019

ISO 20022 CHAPS migration: ‘Like-for-like’ message set and update

We have published the final ‘like-for-like’ message set for the Introductory Phase of the ISO 20022 CHAPS migration. This documentation also contains additional information on our migration approach, including updates on the use of enhanced data messages, testing and work to ensure participant readiness.

We have published a separate update to explain the impact of these changes on other RTGS account holders.

August 2019

The Bank of England responds to BEIS on the Corporate Transparency and Register Reform Consultation

Our response focussed on how the use of Legal Entity Identifiers (LEI) may provide a solution for the Department for Business, Energy and Industrial Strategy (BEIS). In turn, this could have benefits for the real economy. This comes as part of the Bank’s  effort to champion the LEI as a globally recognised and unique identifier for all businesses in the UK.

February 2019

The Standards Advisory Panel (SAP) held its first meeting

February 2019

Procurement for a Technology Delivery Partner commenced 

The Bank published a contract notice in the Official Journal of the European Union (OJEU) inviting potential providers to express their interest. The chosen Technology Delivery Partner will be announced in Summer 2020.

November 2018

Start of the Design, Enable and Procure phase of the Programme

July 2018

Proof of Concept

The Bank has completed a Proof of Concept (PoC) to understand how a renewed RTGS service could be capable of supporting settlement in systems operating on innovative payment technologies.

November 2017

Delivery of CHAPS

One of the earliest deliverables of the RTGS renewal programme was the move to a direct delivery model for CHAPS.

July 2017 External Advisory Body

External Advisory Body

External Advisory Body is set up to support an ongoing and effective dialogue between the Bank and its stakeholders during the renewal Programme.

May 2017

Blueprint published

A Blueprint for a new RTGS Service for the United Kingdom is published. 

January 2016

Start of RTGS Renewal Programme

The Bank of England announces it will develop a blueprint to modernise the UK’s sterling settlement infrastructure to respond to changing needs. 
This page was last updated 10 August 2020

Give your feedback

Was this page useful?
Yes
No
Add your details...