Minutes of the SONIA Stakeholder Advisory Group - 25 September 2026
Summary
The Bank of England’s SONIA Stakeholder Advisory Group discussed potential changes to sterling money market data collection and the operational implications of extending RTGS and CHAPS settlement hours. The group also considered how longer settlement windows, possible weekend opening, and reporting deadlines could affect SONIA publication timing and market conventions.
Why it matters
SONIA is a key benchmark used in many residential property finance products, so any change to its publication, reporting or settlement processes could affect lending operations and pricing. Surveyors involved in valuation, lending or transaction support should be aware of possible knock-on effects for mortgage markets and completion timing.
Key points
- The Bank of England and HM Treasury are reviewing statutory powers for sterling money market data collection.
- The Bank is considering extending RTGS and CHAPS settlement hours towards near 24-hour, seven-day operation.
- Stakeholders expressed a strong preference to keep SONIA publication at 09:00.
- Longer settlement hours could create reporting and timestamp issues for market participants.
- Weekend CHAPS opening raised questions about whether SONIA should reflect weekend activity separately or within weekday data.
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