> Delay to European Central Bank messaging project cost the Bank of England £23M
[AUTHOR: Lindsay Clark]
[DATE: 15/12/2025 12:50]
[LANGUAGE: EN]
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.…