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Home > Markets and Payments > Discount Window Facility

Discount Window Facility

The bilateral on-demand Discount Window Facility (DWF) is aimed at SMF participants experiencing a firm-specific or market-wide shock. It allows participants to borrow highly liquid assets in return for less liquid collateral in potentially large size and for a variable term.

For more information on how to contact the Bank to request a DWF drawing and arrange for collateral movements to the DWF pool, please see the SMF Operating Procedures, which can be found on the SMF Documentation page.

The operation of Discount Window Facility is set out in more detail in the Red Book:

Red Book - Discount Window Facility


DWF Aggregate Usage

Market Notices

The main SMF Documentation sets out how this facility works. Its provisions may be amended by the Bank from time to time by Market Notices.

Click Read more to see superseded Market Notices


Transaction Documentation

Quick Reference Guide to DWF
Bank of England Discount Window Facility - Indicative Pricing Spreadsheet
DWF Transaction Notice
Settlement Accounts
Termination Notice (Partial or Full)

Information for participants

Market Notices
Eligible Collateral
Applications to participate
Links for delivery of securities