Carney launches review into RTGS failure
Inquiry will cover the cause of the problem and the BoE’s response
Mark Carney has launched a review of the "disruption" that forced the closure of the Bank of England's (BoE) real-time gross settlement (RTGS) system for several hours yesterday.
An unspecified "technical issue" meant the system – used for settling high-value payments – was unable to process payments made though the Clearing House Automated Payment System (Chaps).
The central bank resorted to processing the "most important" payments manually throughout the day, until – at around 16:00 – the RTGS
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