Bank of England Extends CHAPS Settlement Service Hours

The Bank of England has announced an extension of the operating hours for its CHAPS (Clearing House Automated Payment System) settlement service. According to Jin10, the start time for the settlement service will be adjusted from 06:00 to 01:30. This change aims to enhance the efficiency and accessibility of the payment system, allowing for more flexibility in financial transactions. The adjustment reflects the Bank's commitment to improving the infrastructure supporting the UK's financial system.