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Home > Markets and Payments > Asset Purchase Facility - Applications to participate
 

Asset Purchase Facility - Applications to participate

This page contains information on applying to become a counterparty in the APF Gilt Purchases and Corporate Bond Purchase Schemes.   
 
Firms wishing to participate in the Asset Purchase Schemes must be market makers in the relevant securities.
 
Information on eligibility criteria and applying to participate in the Bank of England’s
Sterling Monetary Framework (SMF) is available here, and information on applying to participate in the APF Term Funding Scheme is available here 
 
Corporate Bond Purchase Scheme
To participate as a counterparty in the Corporate Bond Purchase Scheme (CBPS), the Bank must be satisfied that the applicant is a market maker in investment grade sterling denominated corporate bonds.  The applicant must also be a participant in the SMF, for Open Market Operations (OMOs).
 
Applicants meeting the above criteria should complete the expression of interest form below, and return it to applications@bankofengland.co.uk.
 
 
Applicants should also complete the below Operational Contacts and Settlement Information form, and return it to BPFRDMarketSettlement@bankofengland.co.uk.
 
 
Firms must have access to the Bank’s electronic tendering system, Btender, in order to participate in corporate bond purchase reverse auctions.

Successful applicants will be asked to sign an Admission Letter, agreeing to the terms of the APF Documentation. A proforma Admission Letter is available below:
 

Gilts

 
To participate as a counterparty in the competitive auctions, an applicant must be:-
-       a Gilt Edged Market Maker (GEMM) as listed on the website of the DMO; and
-       a participant in the SMF, for gilt-purchase OMOs.
 
Within a Group, only one firm may apply to participate in the competitive auctions.
 
To participate as a counterparty in the non-competitive element of the auction, an applicant must be appropriately authorised for the purposes of the Financial Services and Markets Act (with the exception of firms that are participants in the gilt-purchase OMOs).
 
Different legal entities within the same Group may apply to participate in the competitive and the non-competitive elements of the auction, where they undertake different kinds of activity (eg banking and asset management).

 

Applicants should complete the form below and send it to applications@bankofengland.co.uk.

Application form and questionnaire 

 

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