'Critical' Bank of England payments system fails

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'Critical' Bank of England payments system fails
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Officials have launched an investigation into what caused the 'technical issue', which lasted for around six hours. The last time a similar error occurred in 2014, an estimated 700 home sales did not go through as planned

The Bank of England is investigating after its high-value payments system went offline on Monday for around six hours.

The Bank described the outage of its Real-Time Gross Settlement service and CHAPS as a"technical issue". "We do not anticipate that there will be any outstanding payments to settle when we close the system this evening," a Bank spokesperson added.

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