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.

• From: HM Treasury and The Rt Hon Philip Hammond
• Published: 3 August 2017

This was published under the 2016 to 2019 May Conservative government

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England 03/08/2017

PDF, 57.3 KB, 1 page

Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 03/08/2017

PDF, 43.4 KB, 2 pages

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.

Published 3 August 2017