Uptime: Difference between revisions
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:<span style="color:#4B0082">'''''CBDC uptime targets may be 99.999%'''''</span> | :<span style="color:#4B0082">'''''UK CBDC uptime targets may be 99.999%'''''</span> | ||
:"Current RTGS and CHAPS services have a target uptime of at least 99.95%, and that would constitute a minimum expectation for Bank of England-managed CBDC infrastructure. | :"Current RTGS and CHAPS services have a target uptime of at least 99.95%, and that would constitute a minimum expectation for Bank of England-managed CBDC infrastructure. | ||
:However, we will explore whether a standard tailored to retail payments, where uptime targets are typically closer to 100%, would be appropriate and deliverable (in particular 99.999%). | :However, we will explore whether a standard tailored to retail payments, where uptime targets are typically closer to 100%, would be appropriate and deliverable (in particular 99.999%). | ||
:Uptime targets are only one element of payment system resilience, and this target would be complemented by best practice risk management processes and controls. | :Uptime targets are only one element of payment system resilience, and this target would be complemented by best practice risk management processes and controls. | ||
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* [[Bank of England]] | * [[Bank of England]] | ||
* [[Bank for International Settlements]] | * [[Bank for International Settlements]] | ||
* [[Best practice]] | |||
* [[Britcoin]] | * [[Britcoin]] | ||
* [[Cash management]] | * [[Cash management]] | ||
* [[Central bank]] | * [[Central bank]] | ||
* [[Central bank digital currency]] | * [[Central bank digital currency]] (CBDC) | ||
* [[Central bank money]] | * [[Central bank money]] | ||
* [[Clearing House Automated Payment System]] (CHAPS) | * [[Clearing House Automated Payment System]] (CHAPS) | ||
* [[Currency]] | * [[Currency]] | ||
* [[Currency substitution]] | * [[Currency substitution]] | ||
* [[Cyber breach]] | |||
* [[Digital currency]] | * [[Digital currency]] | ||
* [[Digital Dollar Project]] (DDP) | * [[Digital Dollar Project]] (DDP) | ||
| Line 48: | Line 51: | ||
* [[Real-time gross settlement system]] (RTGS) | * [[Real-time gross settlement system]] (RTGS) | ||
* [[Regulated Liability Network]] (RLN) | * [[Regulated Liability Network]] (RLN) | ||
* [[Reputational risk]] | |||
* [[Resilience]] | * [[Resilience]] | ||
* [[Retail]] | * [[Retail]] | ||
| Line 65: | Line 69: | ||
* [https://www.bis.org/about/bisih/topics/cbdc.htm Bank of International Settlements, Central Bank Digital Currency] | * [https://www.bis.org/about/bisih/topics/cbdc.htm Bank of International Settlements, Central Bank Digital Currency] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 10:16, 30 July 2024
Cash management - treasury - banking - finance - cyber risk - central bank digital currencies - outage.
Uptime means periods during which a system is available and operational.
Uptime is the opposite of an outage, or downtime.
- UK CBDC uptime targets may be 99.999%
- "Current RTGS and CHAPS services have a target uptime of at least 99.95%, and that would constitute a minimum expectation for Bank of England-managed CBDC infrastructure.
- However, we will explore whether a standard tailored to retail payments, where uptime targets are typically closer to 100%, would be appropriate and deliverable (in particular 99.999%).
- Uptime targets are only one element of payment system resilience, and this target would be complemented by best practice risk management processes and controls.
- There could also be minimum uptime requirements that PIPs and other service providers might need to meet."
- The digital pound: Technology Working Paper - Bank of England - February 2023 - p35.
See also
- Bank of England
- Bank for International Settlements
- Best practice
- Britcoin
- Cash management
- Central bank
- Central bank digital currency (CBDC)
- Central bank money
- Clearing House Automated Payment System (CHAPS)
- Currency
- Currency substitution
- Cyber breach
- Digital currency
- Digital Dollar Project (DDP)
- Digital euro
- Digital pound
- Digital public money
- e-krona
- e-money
- European System of Central Banks
- Monetary
- Money
- Multi-CBDC arrangement
- Outage
- Payment Interface Provider (PIP)
- Project Icebreaker
- Project Mariana
- Proof of concept
- Real-time gross settlement system (RTGS)
- Regulated Liability Network (RLN)
- Reputational risk
- Resilience
- Retail
- Retail central bank digital currency (rCBDC)
- Risk management
- Sand Dollar
- Wholesale central bank digital currency (wCBDC)
