The bilateral on-demand Discount Window Facility (DWF) is aimed at banks 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.
The operation of Discount Window Facility is set out in more detail in the Red Book:
Red Book - Chapter VIII - Discount Window Facility (154KB)
DWF Aggregate Usage
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Click Read more to see superseded Market Notices
Quick Reference Guide to DWF (138KB)
Bank of England Discount Window Facility - Illustrative Pricing Spreadsheet (55KB)
Appendix I - Transaction Notice (46KB)
Appendix II - Accounts (63KB)
Appendix III - Termination Notice (Partial or Full) (55KB)
Information for participants
Applications to participate