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Carney investigates Bank of England crash

Sarah Davidson

October 21, 2014

All 142,759 payments submitted to its Real-Time Gross Settlements system were processed after the Bank extended its opening hours until 8pm.

The Bank said in a statement: “The Governor of the Bank of England, Mark Carney, has launched a thorough, independent review of the causes of today’s disruption to RTGS, the Bank’s system for settling high value payments.

“The review will cover the causes of the incident, the effectiveness of the Bank’s response and the lessons learned for future contingency plans. Its findings will be presented to court which will then publish the full report and the response.”

Later the Bank commented that it would closely monitor the system this morning.

A Bank statement added last night: “The Bank apologises for any problems caused by the delays to the settlement of payments today and has launched a thorough, independent review of the incident.”


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