Correspondence
Asset Purchase Facility (APF) ceiling, August 2017
On 3 August 2017, the Governor of the Bank of England requested to raise the limit on purchases that may be undertaken by the APF to ensure that the Term Funding Scheme (TFS) can continue to lend central bank reserves to banks and building societies during a defined drawdown window at rates close to Bank Rate. The Chancellor of the Exchequer authorised the increase in the total size of the APF via an exchange of letters on 3 August 2017.
Documents
Details
The letters exchanged between the Chancellor of the Exchequer and the Governor of the Bank of England that authorise an increase in the total size of the APF.