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Home > Markets and Payments > Asset Purchase Facility - Secured Commercial Paper (2009-2016)
 

Asset Purchase Facility - Secured Commercial Paper (2009-2016)

The Secured Commercial Paper Facility was withdrawn on 4 August 2016.  The Secured Commercial Paper Facility enabled the purchase of investment grade sterling asset-backed commercial paper securities to support the financing of working capital.  The aim was to channel funds to a broad range of corporates whilst also underpinning secondary market activity and helping to enlarge the private issuance market, and so remove obstacles to corporate access to capital markets.
To achieve this, the Bank of England offered to purchase, at a minimum spread over risk-free rates, newly issued commercial paper in the primary market via dealers, and after issuance from other eligible counterparties by acting as a backstop for secondary market investors.
Results
Data on individual transactions within the Secured Commercial Paper facility were not published by the Bank.
A time series showing the aggregate value of weekly purchases (on a trade date basis) and of the outstanding stock holdings (on a settled basis, net of any redemptions) is available using the Interactive Database.
Market Notices
 
Market notices contain the operational details by which the Bank of England undertake the various facilities. They form part of the Legal Documentation.
 

Market Notices

Market notices contain the operational details by which the Bank of England undertake the various facilities. They form part of the Legal Documentation.

Market Notice: Asset Purchase Facility Secured Commercial Paper Facility 
1 August 2012 
Consultation on Working Capital Facilities Proposals
8 June 2009

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