Commons Sense

House of Commons · Written Ministerial Statement

Notification of Contingent Liability

13 May 2025 · Treasury

Proposed by Rachel Reeves Lab Leeds West and Pudsey

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 authorised maximum size of the Asset Purchase Facility (APF) for asset purchases.
  • The authorised maximum total size of the APF has been reduced to 619.7 billion, comprising entirely of gilts.
  • The risk control framework and regular risk oversight meetings will continue to be in place.

Issue summary

The Treasury is reducing the authorised maximum size of the Asset Purchase Facility (APF) for asset purchases.

Action requested

The authorised maximum total size of the APF has been reduced to £619.7 billion, comprising entirely of gilts. The risk control framework and regular risk oversight meetings will continue to be in place.

Key facts

  • The MPC decided on 3 February 2022 to reduce stocks held in the APF.
  • Sales of corporate bonds ceased on 6 June 2023, with some reaching maturity by 5 April 2024.
  • As of 12 November 2024, total stock of assets fell from £654.5 billion to £619.7 billion.
  • HM Treasury will continue monitoring risks through regular meetings and enhanced information sharing with the Bank.
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