Last month

  • In June 2016, CHAPS processed 3.4 million payments worth £6.5 trillion over 22 settlement processing days.                                     
  • The average daily volume was 155,982, an increase of 5.7% from June 2015. 
  • The average daily value was £295 billion, an increase of 14.6% from June 2015.              
  • Volumes and values increased slightly after the EU Referendum result was announced, but over the last three years CHAPS has successfully processed higher peaks as part of the normal course of business.
                   

In the first half of 2016

  • The average daily volume was 153,285, an increase of 3.5% from January - June 2015.
  • The average daily value was £293 billion, an increase of 9.9% from January - June 2015.

 

Last year

  • In 2015 CHAPS volumes grew by 2.8% to a record 37.5 million; on average 148,412 per day.
  • This beat the CHAPS record in 2014 of 36.5 million payments.
  • The total value transmitted in CHAPS in 2015 grew by 0.7% to £68.4 trillion; on average £270 billion daily. The value transmitted started to grow from August 2015 onward (compared with the same month the year before).

 

CHAPS in context

  • CHAPS represents 0.5% of UK total payment volumes but 92% of total sterling payment values (excluding internalised flows within Payment Service Providers).
  • CHAPS turns over the annual UK GDP every 6 working days.

 

Market effects

  • CHAPS saw 5.5% growth in 2015 in Retail and Commercial (MT103) payments between £100,000 and £1 million, above the overall growth rate of 2.8%. The housing market continued to contribute to CHAPS volume growth, though at a lower rate than the 12% seen in 2014 for this value range.
  • In the second half of 2015, the very small number of payments for less than £100 grew at a lower rate (4.1%) than previously, compared with the same period in 2014. These are very low value compared with the average CHAPS value of £1.82 million (mean) and median of £7,310. They saw double-digit growth in 2014 and the first half of 2015, partly due to temporary use to forward some payments to accounts that have been switched to other banks.

 

CHAPS Values for the previous 12 months

 

CHAPS Volumes for the previous 12 months