Addressee: Bank of England · Source location: Page 12, paragraph 25, point a, first bullet point
To help maximise the benefits from its management of the renewal programme and implementation of the new RTGS, the Bank should: a)identify mechanisms for applying lessons from the programme to its other digital and business transformation projects to secure change, for example updating internal guidance or review processes;
Response position:
Accepted
Delivery:
In progress
· October 2026 (Q3 2026-27)
Addressee: Bank of England · Source location: Page 12, paragraph 25, point c, third bullet point
To help maximise the benefits from its management of the renewal programme and implementation of the new RTGS, the Bank should: c)as it manages a more dynamic process of RTGS change, ensure it understands the impact of higher levels of change on all RTGS users, to minimise this where possible; and
Response position:
Accepted
Delivery:
In progress
· December 2026 (Q3 2026-27)
Addressee: Bank of England · Source location: Page 12, paragraph 25, point b, second bullet point
To help maximise the benefits from its management of the renewal programme and implementation of the new RTGS, the Bank should: b) set out clear plans for ensuring the right investment and resourcing at the right time to keep the system up to date (including for wider Bank services that the RTGS relies on);
Response position:
Accepted
Delivery:
Implemented
· March 2026 (Q2 2026-27)
· Confirmed by NAO
Addressee: Bank of England · Source location: Page 12, paragraph 25, point d, fourth bullet point
To help maximise the benefits from its management of the renewal programme and implementation of the new RTGS, the Bank should: d) assess and, where possible, evaluate the effectiveness of potential interventions in widening access and reducing barriers to entry to the RTGS, including the introduction of alternative access routes to Swift, to ensure it puts the optimum mix in place.
Response position:
Accepted
Delivery:
In progress
· June 2027 (Q1 2027-28)