BofE to extend Chaps settlement hours

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Following a consultation on the matter, the central bank has decided to move the start of Chaps settlement from 06:00 to 01:30 in September 2027.

Participation in the early morning extension will be optional, providing Chaps direct participants with the opportunity to send payments during the additional period.

The BofE says the extension is designed to support earlier settlement, strengthen liquidity and operational resilience, and better align UK settlement with international markets.

The bank says it is not currently planning to extend the evening contingency window but work is ongoing on bank holiday settlement and the wider roadmap towards near 24x7 settlement, with a consultation paper set for Spring 2026.

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