Bank of England committee says money markets stayed smooth in September

• Members said money markets continued to function smoothly.
• Funding conditions remained stable despite recent bond market volatility.
• The committee discussed plans to extend RTGS and CHAPS settlement hours.
• The next update to the Sterling Money Markets Code is planned for 2027.

Action

The Money Markets Committee met on 25 September 2026 at the Bank of England in London. It discussed market conditions, settlement hours and other sterling money market issues.

Bank of England committee says money markets stayed smooth in September

Members said money markets continued to function smoothly. Funding conditions remained stable, liquidity was ample and signs of stress were limited.

The committee also discussed the Bank’s May 2026 consultation on extending RTGS and CHAPS settlement hours. Bank staff said feedback was broadly supportive.

Respondents

The minutes named the Money Markets Committee, Bank staff and members of the committee. They also referred to the Monetary Policy Committee, HM Treasury, Euroclear UK & International and the Association of Corporate Treasurers.

Effective

The minutes were published on 13 October 2026. They said publication of the next update to the Sterling Money Markets Code is planned for 2027, in line with the three-year review cycle.

Penalty

No penalty, charge or licence action was recorded in the minutes.