The Bank of England (BoE) has published a report setting out its blueprint for a renewed real-time gross settlement (RTGS) service. Section 1 of the blueprint describes the features of the BoE’s vision for the next generation of its RTGS service, including nearer-term reforms to the United Kingdom’s High-Value Payment Systems and explains how they support BoE’s objectives. Section 2 outlines how the BoE plans to work with stakeholders over the coming years on delivery of the RTGS renewal programme. The BoE’s plan is for the majority of the enhanced functionality in the RTGS to be live by the end of 2020.

View BoE’s plans for renewed RTGS service, 9 May 2017