BoE Confirms Decision To Extend CHAPS Settlement Hours

The Bank of England (BoE) has published a policy statement confirming its decision to extend CHAPS settlement hours by introducing an early morning extension (EME). This will move the start of settlement from 06:00 to 01:30 under an optional participation model, with implementation targeted for September 2027 (subject to final confirmation of the planned timelines with impacted CHAPS direct participants (DPs)). The EME follows the July 2025 consultation and is intended to support earlier... By: A&O Shearman