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Bank of England suspends real-time payments system
October 20, 2014 / 10:32 AM / 3 years ago

Bank of England suspends real-time payments system

A wooden carving of the Bank of England logo is seen on a desk during the bank's quarterly inflation report news conference at the Bank of England in London November 13, 2013. REUTERS/Toby Melville

LONDON (Reuters) - The Bank of England said on Monday that it had temporarily suspended its automated Real Time Gross Settlement payment system, which banks use to transfer large sums of money, and that it was handling major payments manually.

“The Bank of England has identified a technical issue related to some routine maintenance of the RTGS payment system and has paused settlement while we resolve it,” it said in a statement.

“We can reassure the public that all payments made today will be processed,” the central bank added.

Reporting by David Milliken; editing by William Schomberg

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