Bank of England plans Sunday and holiday settlements
The Bank of England announced plans to extend settlement hours for the RTGS and CHAPS systems to include Sundays and holidays starting in 2029. This move aims to reduce risk and support innovation in financial services while keeping pace with digital currencies and global standards.
The Bank of England will extend its payment settlement systems to Sundays and bank holidays starting in 2029, moving toward near 24/7 operations. The central bank plans to open the Real-Time Gross Settlement (RTGS) and CHAPS systems from 1:30 a.m. through 6 p.m. on these days. This modernization allows the United Kingdom to integrate tokenized deposits and stablecoins into its financial system.
These changes will not occur before 2029, with even longer operating hours delayed until at least 2031. The schedule excludes Christmas Day, New Year's Day, and Easter Sunday. The BoE also plans to move weekday CHAPS settlement to 1:30 a.m. from 6 a.m. starting in September 2027.
