The Bank of England has issued a press release concerning extending the CHAPS and CREST settlement day.

The CHAPS and CREST settlement day will be extended from summer 2016 by one hour and forty minutes to 18:00. Customer cut-off times set by the banks and other financial institutions may be earlier than this, the CHAPS deadline for customer payments will be 17:40. The Bank expects direct participants in CHAPS and CREST to pass on the full benefits to their customers.

Implementation of the extended CHAPS and CREST settlement day is scheduled for 20 June 2016.

View Extending the CHAPS and CREST settlement day, 11 September 2015