Bank of England launches CHAPS direct delivery
November 13, 2017

The Bank of England has today commenced the direct delivery of the CHAPS service. Until now, the service has been operated by the CHAPS Clearing Company Limited (CHAPS Co) – a private entity owned by its members. 

Earlier this year the Bank, and the Financial Policy Committee, concluded that financial stability would be enhanced by moving to direct delivery. The Bank's decision was announced in May in its Blueprint for a new real-time gross settlement service. The Blueprint aims to ensure the UK's high-value payment system (HVPS) remains at the leading edge of global best practice. 

The CHAPS service is open as usual today. 





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The Bank of England has today commenced the direct delivery of the CHAPS service. Until now, the service has been operated by the CHAPS Clearing Company Limited (CHAPS Co) – a private entity owned by its members. 

Earlier this year the Bank, and the Financial Policy Committee, concluded that financial stability would be enhanced by moving to direct delivery. The Bank's decision was announced in May in its Blueprint for a new real-time gross settlement service. The Blueprint aims to ensure the UK's high-value payment system (HVPS) remains at the leading edge of global best practice. 

The CHAPS service is open as usual today. 



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