BoE broadens access to RTGS with ‘omnibus’ account model
Accounts will allow payment system operators to ‘pool’ client funds for transfers in central bank money
The Bank of England has introduced new “omnibus accounts” for its real-time gross settlement (RTGS) system in an attempt to broaden access to its payments framework.
In a statement today (April 19), the BoE said the new accounts would allow it to support a “greater range of payment systems”.
The new account model also aligns with the central bank’s broader RTGS renewal blueprint, which aims to enable RTGS to interface with a wider range of payment systems.
According to the central bank, an
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