RTGS lies at the heart of the UK’s payment infrastructure, as well as our mission for monetary and financial stability. On an average day, RTGS settles around £500 billion between banks – around a quarter of the UK’s annual GDP – in sterling central bank money.
The renewed RTGS service is designed to: respond to the changing structure of the financial system, meet user demand for simpler and more resilient payment pathways, build capacity to interface with new payment technologies as adoption increases, ensure continued resilience in the face of evolving threats such as cyber-attacks, and support the evolution of regulatory and monetary policy tools.
A blueprint for a new RTGS service for the United Kingdom