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Confirmation of the Launch Date of Phase 1 of the RTGS-XG Project

October 12, 2008
Bank of Japan

The Bank of Japan has today confirmed that it will "go live" on Tuesday, October 14, 2008, as scheduled, with Phase 1 of the next-generation RTGS (RTGS-XG) project of the BOJ-NET Funds Transfer System.1,2

Over the weekend of October 11-12, the Bank has made the necessary changes to its own systems and performed a test run. It has also conducted connectivity tests with participating financial institutions. Following these arrangements, the Bank has concluded that both the Bank and participating financial institutions have completed the necessary preparations.

  1. Phase 1 of the RTGS-XG project consists of two components. First, liquidity-saving features will be introduced in the BOJ-NET Funds Transfer System, an RTGS system operated by the Bank. Second, the enhanced RTGS system will incorporate payments that are currently settled through the Foreign Exchange Yen Clearing System on a deferred net basis.
  2. Monday, October 13, 2008, is a national holiday in Japan.