OFFICIAL STATEMENT Bank of England News

Delay to the November 2026 RTGS standards release

What happened
Based on Bank of England News · Aug 27, 2026

The Bank of England has delayed its November 2026 RTGS standards release, aligning with Swift’s postponement of the CBPR+ standards update to ensure global readiness and avoid implementation risks.

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Key points
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After careful consideration, the company is also delaying what would have been the November 2026 RTGS standards release, this includes the messaging standards for CHAPS payments.
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Maintaining global alignment is important to preserving interoperability and to avoid the introduction of new implementation risks, and we have therefore worked closely with Swift and other major market infrastructures to support a co-ordinated approach.
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Bank of England its November 2026 RTGS standards release will therefore be deferred in its entirety.
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This is consistent with Swift delaying the entire CBPR+ standards release and avoids challenges and risks that might otherwise create risks for both the Bank and industry from trying to separate changes at this late stage.

The Bank of England announced on 27 August 2026 that it will delay the November 2026 RTGS standards release, including messaging standards for CHAPS payments. This decision follows Swift’s announcement of a delay to its November 2026 Standards Release, which was requested by industry participants concerned about global readiness for the removal of unstructured postal address formats.

The Bank stated that maintaining global alignment is essential to preserve interoperability and prevent new implementation risks. It has worked closely with Swift and other major market infrastructures to adopt a coordinated approach, deferring the entire RTGS standards release rather than separating changes at this late stage.

The Bank emphasized that this delay avoids potential challenges and risks that could arise from attempting to implement changes separately. It will continue to engage directly with Swift, other market infrastructures, and RTGS participants to determine next steps.

The Bank will provide broader updates through its ISO 20022: Implementing the global payments messaging standard within CHAPS and RTGS initiative. This will help organizations adjust their planning as revised timelines are confirmed, ensuring smoother transitions as further details become available.

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