The Bank of England has published FAQs relating to the extension of the settlement hours of CHAPS and CREST from 20 June 2016. In particular, Question 12 of the FAQs considers the impact of the extension on CASS and the FCA has advised that the CASS rules will still apply when the settlement day is extended, and that firms will still be expected to comply. The extended settlement day for CHAPS and CREST was announced in September 2015 and the change means that from 20 June 2016, these systems will close at 18:00 for direct participants, such as the major banks. This will better align the CHAPS and CREST settlement day with the typical business hours of many system users.