CHAPS ISO 20022 Migration Update

The Bank of England have provided the following CHAPS ISO 20022 migration update:

‘The migration of CHAPS to ISO 20022: Transition State 2 will now take place as a single event in April 2023, rather than two separate stages in June 2022 (migration from MT to MX (ISO) network) and February 2023 (enablement of enhanced data). Enhanced data will be immediately supported from April 2023; removing the need for an initial like-for-like implementation stage.’

Source: Bank of England