In this article, Roger Jones Chairman of TARGET Working Group and Raymond Cox discuss the implications of a failure of the UK system for real time settlement of payments. The system (RTGS) is operated by the Bank of England and suffered a technical problem on 20 October 2014 which meant it ceased to operate for nearly 10 hours. This article discusses the operational and legal implications of such an outage.
Journal of International Banking and Financial Law,  2 JIBFL 69
See also Banking and Finance Recent Work