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Notification of Contingent Liability
23 November 2022
Type
Written Ministerial Statement
Department
Treasury
At a Glance
Issue Summary
The statement addresses the reduction of stocks held in the Asset Purchase Facility (APF) by ceasing to reinvest maturing securities and reducing the authorised maximum size of the APF.
Action Requested
The authorised maximum total size of the APF has been reduced from £966bn to £871bn, reflecting the unused portion of recent financial stability expansions. The risk control framework remains in place with ongoing monitoring by HM Treasury.
Key Facts
- The MPC decided on 3 February 2022 to reduce stocks held in APF.
- Sales of corporate bonds began on 28 September 2022 and gilts on 1 November 2022.
- Maximum authorised size reduced from £966bn to £871bn as of 4 November.
- Total stock of assets fell from £866.6bn to £851.6bn since May 2022.
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