The Bank of England published a consultation paper on 18 May 2026 proposing a three-phase expansion of CHAPS settlement hours towards near-24x7 operation. Phase 1, confirmed for September 2027, moves the daily CHAPS opening from 06:00 to 01:30 on weekdays, extending the settlement window to 16.5 hours.
Phase 2, proposed for 2029 or later, would introduce settlement on Sundays and six designated UK bank holidays including Easter Monday, both May bank holidays, and the August bank holiday. Phase 3, targeted for 2031, would extend each weekday to 22 hours of continuous settlement.
The consultation closes on 10 August 2026.