What happened
The Bank of England on 4 November 2026 published a summary of the second meeting of the RTGS CHAPS Industry Forum, which took place on 13 October 2026.
The Bank’s page describes the document only as a summary of the forum’s second meeting. No further details of the discussion are confirmed here, so this report does not describe what was agreed or debated.
What it means for you
For most readers, nothing changes immediately. The publication is a record of an industry meeting, not a new rule, rate or deadline.
If you send or receive large payments in the UK, for example when buying a home, the systems this forum covers sit behind those transfers. India has a comparable system, and our guide on NEFT, RTGS and IMPS explains how it works.
Background
RTGS stands for real-time gross settlement. It is a system in which payments between banks are settled one by one, immediately, rather than being bundled together and settled later. In the UK, the Bank of England runs the RTGS service.
CHAPS is the UK’s high-value payment system, which relies on RTGS for settlement. The forum’s name reflects that it brings together the Bank and the industry around these two services.
Readers who want the full detail of what the forum discussed can read the summary on the Bank of England website.
