Bank of England
Network configuration, CA and SWIFT issues, and certificate expiration blamed for a series of RTGS outages the past year.
Bank of England seeks "a more outcome-based approach to service provision"
"The financial sector’s interconnectedness has the potential to spread disruption widely and quickly, affecting households and businesses."
“Less than a year out from the March 2025 deadline… there is still considerable work to be done for many FMIs.”
“Increasingly complex and ad hoc software patches needed to deal with emerging problems and inconsistencies in the forecasting process” says former Fed chairman.
New demands of "critical third-parties" will "require some adjustments all round" says senior BoE official.
Proposed changes for account onboarding front-load compliance burden, even as technology gets slicker...