Correspondence
Letter from the Chancellor of the Exchequer to the Governor of the Bank of England 04/11/2022
Asset Purchase Facility, September 2022.
This was published under the 2022 to 2024 Sunak Conservative government
Documents
PDF, 179 KB, 3 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email
[email protected]. Please tell us what format you need. It will help us if you say what assistive technology you use.
PDF, 4.98 MB, 4 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email
[email protected]. Please tell us what format you need. It will help us if you say what assistive technology you use.
Details
On 28 September, the Bank announced that it would carry out temporary purchases of long-dated UK government bonds (gilts) through the Asset Purchase Facility (APF) under the Bank鈥檚 financial stability objective to restore orderly conditions. Ahead of the intervention, the Chancellor confirmed the Treasury鈥檚 authorisation of an increase of up to 拢100 billion in the amount of gilts that the APF can purchase. Total gilt purchases under this new operation reached 拢19.3 billion when the daily auctions ended as planned on 14 October.聽The Chancellor and Governor have therefore agreed to reduce the authorised maximum size of the APF from 拢966 billion, as was agreed on 28 September 2022, to 拢886 billion.
Updates to this page
Published 4 November 2022