Uptime: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
(Add links.) |
(Layout.) |
||
| (One intermediate revision by the same user not shown) | |||
| Line 6: | Line 6: | ||
:<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. | ||
| Line 26: | Line 27: | ||
* [[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) | ||
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)
