Bank of England's Money Markets Committee backs phased extension of RTGS and CHAPS hours

The Money Markets Committee met on 25 September 2026 and reviewed sterling funding conditions, the proposed leverage ratio changes and the Bank's plan to extend RTGS and CHAPS settlement hours toward near 24x7. This segment covers what members supported, the operational frictions they raised, and the contingency and Code workstreams flagged for later in the year.

• Feedback to the May 2026 RTGS/CHAPS consultation was broadly supportive, with respondents favouring extending existing operating days before adding further operating days.
• Members welcomed the FPC's proposed leverage ratio changes but said it was difficult to predict any near-term material increase in balance-sheet deployment in UK money markets.
• The next Sterling Money Markets Code update is planned for 2027, and EUI's proposed MiniCREST cyber contingency will return to the December meeting.