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Notification of Contingent Liability

11 November 2025

Proposing MP
Rachel Reeves Lab
Leeds West and Pudsey
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

Issue Summary

The statement addresses a reduction in the authorised maximum size of the Asset Purchase Facility (APF) and its composition.

Action Requested

HM Treasury has reduced the authorised maximum total size of the APF to £555 billion, comprising solely of gilts. The risk control framework remains in place and HM Treasury will continue to monitor risks through regular meetings and information sharing with the Bank of England.

Key Facts

  • The APF is now comprised solely of gilts.
  • The maximum authorised size of the APF has been reduced from £619.7 billion to £555 billion as of 13 May 2025.
  • Sales of corporate bonds ceased on 6 June 2023, with outstanding bonds reaching maturity on 5 April 2024.
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