In line with the Monetary Policy Committee’s most recent decision on the asset purchase programme, we will purchase a further £60bn of gilts over a six-month period from August 2016, increasing the total stock of purchases to £435 billion. Purchases are funded by creating central bank reserves.
The Bank and the UK Debt Management Office (DMO) have agreed that we will make a small proportion of the gilts purchased available to the DMO for on-lending to the market through the DMO’s normal repo market activity. We issued a joint statement on this in 2009.
Market notices contain the operational details by which the Bank of England undertake the various facilities. They form part of the legal documentation