BofE to extend Chaps settlement hours
The Bank of England will extend Chaps settlement hours to 01:30 in September 2027, aiming to improve liquidity and align with international markets.Summary
The Bank of England (BofE) has announced plans to extend the settlement hours for the UK’s Chaps high-value payments network. Following a consultation, the BofE will move the start of Chaps settlement from 06:00 to 01:30, beginning in September 2027. Participation in this early morning extension will be optional for Chaps direct participants, allowing them to send payments during the additional period. The BofE states that this extension is intended to support earlier settlement, strengthen liquidity and operational resilience, and better synchronize UK settlement times with international markets. While no immediate plans exist to extend the evening contingency window, the bank continues to explore options for bank holiday settlement and a broader roadmap towards near 24x7 settlement, with a consultation paper expected in Spring 2026.
(Source：Finextra)