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Notification of Contingent Liability
30 April 2024
Type
Written Ministerial Statement
Department
Treasury
At a Glance
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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