Timetable
|
RTGS, CHAPS and Net Settlement Events |
Time |
CREST Event |
Time |
|
Transfers between own accounts and Enquiry Link access enabled; and Notes Circulation Scheme settlement |
5.15am |
||
|
Start of CHAPS settlement |
6am |
Start of Delivery vs Payment (DvP)/Free of Payment (FOP)footnote [1] /Delivery by Value (DBV)footnote [2] settlement |
6am |
|
Hourly CLS pay‐in and/or pay‐out deadlines |
7am – 11am |
||
|
Faster Payments settlement |
7am |
||
|
PEXA settlement |
8.45am |
||
|
BACS settlement |
9.30am |
||
|
PEXA settlement |
10.45am |
||
|
LINK settlement |
11am |
||
|
VISA settlement |
12.15pm |
||
|
PEXA settlement |
12.45pm |
||
|
Faster Payments settlement |
1pm |
||
|
PEXA settlement |
2.45pm |
||
|
MasterCard Settlement |
3pm |
||
|
PEXA settlement |
3.45pm |
End of equity and gilt DvP settlement | 3.45pm |
|
Image Clearing System settlement |
4.30pm |
||
|
PEXA settlement |
4.45pm |
||
|
Faster Payments settlement |
5pm |
||
|
End of DBV settlement |
5.30pm |
||
|
End of CHAPS settlement for customer payments (pacs.008) |
5.40pm |
||
|
End of CHAPS settlement for financial institution payments (pacs.009) |
6pm |
End of FOP settlement |
6pm |
|
Notes Circulation Scheme settlement |
6.30pm |
||
|
Latest end of contingency extension |
7.30pm |
||
|
Latest end of contingency extension |
8pm |
From 20 June 2016, the Bank extended the RTGS settlement day by one hour and forty minutes. Extended settlement days were also implemented for the CHAPS and CREST systems.
-
FOP refers to free of payment, a delivery of securities which is not linked to a corresponding transfer of funds.
-
DBV refers to Delivery‐by‐Value, whereby a member may borrow or lend cash against collateral in CREST for an agreed term. The system selects and delivers an agreed value of collateral securities meeting pre‐determined criteria against cash from the account of the cash borrower to the account of the cash lender and reverses the transaction at the end of the agreed term.