CHAPS Payments controls allows the account owner to update the configuration of the settlement attributes Headroom Balance, Non Urgent Balance, Max Headroom, Headroom Refresh, Multilateral Limit, Value CAP and Auto Promote Delay for effective processing of CHAPS transactions.
The Bank of England RTGS CHAPS Payments Controls API enables an organisation to:
- Update the CHAPS Payments Controls
The below image lists the various CHAPS Payments Controls attributes available for retrieval using the CHAPS Payments Controls API. For a successful Update request both the old and new values should be provided in the request.
Filter Values:
The CHAPS Payments Controls API has various fields thats have a predefined set of values. To retrieve the possible values of all these fields Participants can use the Filters API Get Resource by passing the relevant Resource Name of the field. For detailed information around fields thats have a predefined set of values across all RTGS API please refer to the following page Filter Values API.
Tasks:
CHAPS Payments Controls API may require Multi Step Review based on Participant's configuration. When an Update request is submitted the Participant will be returned a Task ID for every successful request RTGS receives. This Task ID can be used by the Participant to check the progress of the Update request. Once the request has reached its closure and if it is successful, Participant will be able to see the updates by retrieving the CHAPS Payments Controls. The various statuses a Task would go is explained in detailed in the Tasks API.
When Multi Step Review is enabled and the Participant has submitted the Update request via API channel, it mandates another user from the respective organisation to go to BERTI UI application and approve the Task requested via the API channel. In case Multi Step Review is enabled along with Dual Input required, the approver of the Task will have to key in the new values again. Dual Input Attempt field tracks the number of attempts when an approver performs blind dual input. Blind dual input is to allow an approver to input the same values as the requester without seeing what they have inputted. An approver has a total of 3 attempts to blindly input the same values as the initial API request post which the update request will be rejected.
CHAPS Payments Control API Use Cases & Benefits
- Ability to manage liquidity more efficiently
- Ability to process transactions effectively
- Fuels innovation
- Promotes automation
- Reduction of manual effort
- Cost saving
- Integrated user experience
Supported Developer Toolkit:
Bank of England RTGS APIs will be supported by Swift Microgateway and Swift SDK.Both solutions, provided by Swift, offer access to the APIs. Bank of England hosts a reference implementation based on Swift Microgateway and we can help you start with the API connectivity using this option.
If you are already a user of any of these solutions, just download the API Specification and follow the Swift recommended steps to import it into your implementation.