Building block 12: Extending and aligning operating hours of key payment systems

The limited operating hours of key payment infrastructures that facilitate cross-border payments, particularly real-time gross settlement RTGS systems, constrain the times when payments can be processed. This ultimately leads to increased liquidity costs and settlement risk for those executing the payments and may result in delays for the end users receiving payment. Currently, RTGS operating hours vary significantly across jurisdictions and within regions and often jurisdiction pairs can have relatively large daily gaps in operating hours, with some exceeding half of the day.


Extending and aligning the operating hours of key payment systems across jurisdictions could speed up cross-border payments, improve liquidity management, reduce settlement risk and support progress in other areas of the G20 cross-border payments programme by enhancing the performance of ancillary payment systems that can be used for cross-border payments.


  • In November 2021, the CPMI released a consultative report inviting comments on three potential scenarios for extending RTGS system operating hours ("end states") and associated operational, risk and policy considerations.
  • In May 2022, the CPMI published the final report that sets out the opportunities, risks and policy implications of these possible scenarios for extending RTGS system operating hours, taking into consideration the industry feedback.
  • In February 2023, the CPMI published an analytical framework on extending RTGS system operating hours to help central banks and operators develop an operating hours strategy in consultation with industry.