Correspondence

Asset Purchase Facility (APF) ceiling, November 2017

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.

• From: HM Treasury and The Rt Hon Philip Hammond
• Published: 20 November 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 20/11/2017

PDF, 78 KB, 1 page

Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 20/11/2017

PDF, 60.3 KB, 2 pages

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Details

On 20 November 2017, the Governor of the Bank of England requested to raise the limit on purchases that may be undertaken by the Asset Purchase Facility (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 20 November 2017.

Published 20 November 2017