Summary of RTGS daily timetable

The Bank provides CHAPS and RTGS settlement services according to a fixed timetable of events. The timing of these events can vary in contingency.

Timetable

RTGS, CHAPS and Net Settlement Events

Time

CREST Event

Time

Transfers between own accounts and Enquiry Link access enabled; and Notes Circulation Scheme settlement

5.15am

Start of CHAPS settlement

6am

Start of Delivery vs Payment (DvP)/Free of Payment (FOP)footnote [1] /Delivery by Value (DBV)footnote [2] settlement

6am

Hourly CLS pay‐in and/or pay‐out deadlines

7am – 11am

Faster Payments settlement

7am

BACS settlement

9.30am

LINK settlement

11am

VISA settlement

12.15pm

Faster Payments settlement

1pm

End of equity and gilt DvP settlement

2.55pm

MasterCard Settlement

3pm

Image Clearing System settlement

4.30pm

Faster Payments settlement

5pm

End of DBV settlement

5.30pm

End of CHAPS settlement for customer payments (MT103s)

5.40pm

End of CHAPS settlement for interbank payments (MT202s)

6pm

End of FOP settlement

6pm

Notes Circulation Scheme settlement

6.30pm

Latest end of contingency extension

7.30pm

Latest end of contingency extension

8pm

From 20 June 2016, the Bank extended the RTGS settlement day by one hour and forty minutes. Extended settlement days were also implemented for the CHAPS and CREST systems.

  1. FOP refers to free of payment, a delivery of securities which is not linked to a corresponding transfer of funds.

  2. DBV refers to Delivery‐by‐Value, whereby a member may borrow or lend cash against collateral in CREST for an agreed term. The system selects and delivers an agreed value of collateral securities meeting pre‐determined criteria against cash from the account of the cash borrower to the account of the cash lender and reverses the transaction at the end of the agreed term.

This page was last updated 18 May 2022

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