Correspondence

Asset Purchase Facility (APF) ceiling, May 2022

The Chancellor of the Exchequer and the Governor of the Bank of England jointly agreed to reduce the maximum authorised size of the APF. This was confirmed via a letter exchange on 5 May 2022.

• From: HM Treasury and The Rt Hon Rishi Sunak MP
• Published: 5 May 2022

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Letter from the Governor to the Chancellor

PDF, 232 KB, 2 pages

Letter from the Chancellor to the Governor

PDF, 107 KB, 1 page

Details

The letters exchanged between the Chancellor and the Governor agreed to reduce the maximum authorised size of the APF. The decision was in line with an approach agreed in February 2022 where the Chancellor and Governor decided to periodically reduce the maximum authorised size of the APF as the size of the APF falls.

Published 5 May 2022