Correspondence

Asset Purchase Facility (APF) ceiling, November 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 22 November 2022.

• From: HM Treasury and The Rt Hon Jeremy Hunt MP
• Published: 22 November 2022

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England

PDF, 72.7 KB, 1 page

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Letter from the Governor of the Bank of England to the Chancellor of the Exchequer

PDF, 287 KB, 3 pages

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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 22 November 2022