Domestic
PAYMENTS SIGNAL · REFERENCE CARDA CHAPS payment (UK sterling RTGS)
A high-value sterling payment settles one-for-one across the banks' accounts at the Bank of England, in real time and with immediate finality — each payment settles on its own in central-bank money, with no netting and no waiting for a cycle.
Actors
- Bank Alfa (sending bank)bank
- CHAPSinfrastructure
- Bank of England (RTGS)infrastructure
- Nordbank (receiving bank)bank
Messages
- pacs.008
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | pacs.008 — Bank Alfa submits the CHAPS payment | Bank Alfa → CHAPS | message |
| 2 | Liquidity check — CHAPS checks Bank Alfa's available liquidity | CHAPS → BoE RTGS | internal |
| 3 | Gross settlement — The Bank of England settles the payment in central-bank money | Bank Alfa → Nordbank | settlement |
| 4 | Settlement confirmation — Nordbank is confirmed of the settled payment | CHAPS → Nordbank | message |
| 5 | Book incoming funds — Nordbank books the incoming funds | Nordbank | posting |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Held for liquidity | Bank Alfa's RTGS settlement account does not hold GBP 850,000.00 of available liquidity at the moment the payment is checked. | No money has moved while the payment sits in the queue — Bank Alfa's account is untouched until cover arrives. · Settlement is deferred until liquidity is available; the payment settles, with finality, only once the settlement account can cover it. | Bank Alfa — Bank Alfa manages its intraday liquidity, drawing on the Bank of England's intraday facility so high-value payments do not sit queued late in the day. |