The Bank of England's Money Markets Committee (MMC) met on 25 September 2026, observing that money markets continued to function smoothly. Funding conditions remained stable, and liquidity was reported as ample, even amidst recent increased bond market volatility.
Members also discussed the Bank's May 2026 Consultation Paper on extending RTGS and CHAPS settlement hours. Feedback was largely supportive of the overall direction, with a general preference for extending existing operating days before adding new ones. However, practical considerations were raised, including the availability of liquidity facilities outside current hours and the implications for firms' operational resilience.
The Committee also noted increasing competition for retail and corporate deposits, which, if sustained, could lead to higher wholesale funding requirements and costs over time. Additionally, the Sterling Money Markets Code Sub-Committee is preparing its next update, scheduled for publication in 2027.