January 25, 2018 / 7:52 PM / 25 days ago

Bank of England says technology glitches hit limited number of transactions

LONDON (Reuters) - The Bank of England said on Thursday it was experiencing intermittent technology problems that are indirectly affecting its ability to process a limited number of transactions for wholesale counterparties.

“We have implemented workarounds to enable the Bank to operate as normal, including completing wholesale transactions in as timely a way as possible,” the central bank said in a statement. “We are working to resolve the underlying issue as quickly as we can.”

The Bank of England said the issue was not affecting the so-called real-time gross settlement or the CHAPS system, so the general public will see no impact on any of their banking services.

A central bank spokesman said the settlement day had been extended. The BoE said it would provide a further update on Friday morning.

Reporting By Andrew MacAskill; editing by William James

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