Commons Sense

House of Commons · Written Ministerial Statement

Notification of Contingent Liability

30 April 2024 · Treasury

Proposed by Jeremy Hunt Con Godalming and Ash

Economy

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • The Treasury is reducing the maximum authorised size of the Asset Purchase Facility (APF) to 704.2 billion.
  • The APF will be comprised entirely of gilts.
  • HM Treasury will continue to monitor risks through regular oversight meetings with the Bank of England.

Issue summary

The Treasury is reducing the maximum authorised size of the Asset Purchase Facility (APF) for monetary policy purposes.

Action requested

The authorised maximum total size of the APF has been reduced to £704.2 billion, comprised entirely of gilts, and HM Treasury will continue to monitor risks through regular oversight meetings with the Bank of England.

Key facts

  • The APF's total stock of assets fell from £750.9 billion to £704.2 billion since November 3, 2023.
  • Sales of corporate bonds ceased on June 6, 2023, with the majority of the portfolio sold.
  • All remaining short maturity corporate bonds have matured by April 5, 2024.
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