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CHAPS RTGS (Payments)

CHAPS (Clearing House Automated Payment System) is the UK's high-value, real-time gross settlement (RTGS) payment system. it is used for critical…

What CHAPS RTGS (Payments) requires

CHAPS (Clearing House Automated Payment System) is the UK's high-value, real-time gross settlement (RTGS) payment system. it is used for critical financial transactions, such as the interbank house purchases and the corporate the trades, ensuring the immediate and the irrevocable settlement of the funds through the Bank of England's the reserve accounts.

Pillar: Banking & Global Finance · Authority: Bank of England / Prudential Regulation Authority (PRA) · Version: 1.1.1 · Last updated:

Primary source: https://www.bankofengland.co.uk/payment-and-settlement/chaps

SHA-256 integrity: 22717227621bb54a794ec9b7ce598beeacb435956dab6a0e3a83fb23fe6defd0

Primary Citations — 6 traced to source

  • Bank of England: CHAPS Reference Manual (Operational and compliance rules for direct participants)
  • Financial Services (Banking Reform) Act 2013, Part 5 (Payment Systems Regulator statutory powers)

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