Currently, participants in the Sterling Monetary Framework manage their collateral against specific exposures incurred by the Bank e.g. specific Open Market Operations or provision of Intra-Day Liquidity for RTGS. The Bank is currently implementing a Single Collateral Pool (SCP) model which will instead aggregate the Bank’s exposures to each participant and allow participants to manage their collateral in a single pool against this aggregate exposure value. The Bank is of the view that this change will benefit participants in a number of ways, including:
- reduced number of collateral transactions with the Bank;
- quicker collateral processing through increased use of automation;
- introduction of significant operational efficiencies and reduction in operational risks; and
- easier deployment of securities held at the Bank.
At the same time as introducing an SCP model, the Bank will be improving the operational processes that participants and the Bank use to monitor, deliver and withdraw collateral.
The links below provide further information on the Single Collateral Pool concept and the Bank’s planned implementation schedule:
Collateral Management Portal
Alongside the project to introduce the SCP model, the Bank is also developing a Collateral Management (CM) Portal via which participants in the Bank’s Sterling Monetary Framework Operations will be able to view and manage their associated collateral held at the Bank. This will provide participants with a more sophisticated interface with the Bank and easier access to management information.
Further information about the CM Portal can be found in the link below and in the Seminar Presentation.
Participants that are interested in registering to use the CM Portal should download the form below and follow the instructions to complete and return to the Bank of England.
Please note that you will need to ensure your institution is a member of both testing and live SWIFT Closed User Groups (CUGs) in order to access the CM Portal.
| Collateral Management Portal - Trial (Test) |
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| Collateral Management Portal (Live) |
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Further information about the SWIFT service and how it relates to the CM Portal registration process can be found in the link below: