ECB Messaging Project Delay Cost Bank of England £23M

ECB messaging project delay cost Bank of England £23M

: Watchdog links schedule change to replanning of UK payments system overhaul

Delay to European Central Bank messaging project cost the Bank of England £23M

Watchdog links schedule change to replanning of UK payments system overhaul The European Central Bank's (ECB) decision to delay its move to a new messaging standard in 2022 ended up costing the Bank of England £23 million as it was forced to adjust migration to a new settlement system to avoid compounding risks. . . .