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The Bank felt that getting the requirements was key to the programme, although spending several...
Conclusion
The Bank felt that getting the requirements was key to the programme, although spending several months on this stage at times seemed “a little daunting”.24 The Bank told us that this up-front investment enabled it to start procurement with “a clear sight of what we wanted and [ … ] the technical requirements”.25 Procurement
Government Response
A response document is linked to this report. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
78th Report - The Bank of England’s Real-Time Gross Settlement Renewal Programme
29 Apr 2026
HC 1732
Addressee Bodies
HM Treasury
Timeline
Recommendation age
0.4 yrs
Report published
29 Apr 2026