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Home > Markets and Payments > Standard Settlement Instructions and templates
 

Standard Settlement Instructions and templates

Standard Settlement Instructions (SSIs) enable the straight-through processing (STP) of your collateral settlement instructions through the Bank of England’s systems and out to the market. This enables faster processing and timelier collateral settlement, resulting in quicker advances of cash, gilts or Treasury bills (T-bills) to you.

Our securities settlement instructions set out the Standard Settlement Instructions for the following operations:

Confirmation template
Confirmation template user guide
Loan collateral transfer notice Bank of England
Loan collateral transfer notice Bank of England Asset Purchase Facility Fund Limited

Operational static data

We require participants in our operations to provide static data to enable the straight-through processing of securities and cash transactions, including income processing, and to select certain options for reporting.

We will request this data when you apply to become a new participant or if you are an existing participant applying for a new operation, where applicable.

We recognise that a participant’s static data may change from time to time. It is important that you notify us of any changes using the data collection form in good time, to allow us to amend our records to facilitate the accurate instruction of your trades and payment of income. All updates will be made as soon as possible, or on the ‘effective date’ where specified on the form. However, please allow a minimum of 24 hours to complete any updates. We will try to make any amendments required sooner than this on a reasonable endeavours basis.

Please follow the instructions on the data collection form and make sure that it is signed by the correct authorised signatories according to your institution’s authorised signatory list. Email your completed form and your authorised signatory list to cmc.ssi@bankofengland.co.uk. The authorised signatory list should include:-

  1. The full name of the participating institution.
  2. The effective date of the list.
  3. Certification by the company secretary (or equivalent able to certify) that the signatures are true and authentic.
  4. Whether each authorised signatory can act alone or if joint signatories are required.


We will assume that the list you provide is valid and up to date. It is your responsibility to notify us if changes need to be made to your authorised signatory list.

We will update our records based on the most recently submitted, appropriately authorised static data form. It is therefore your responsibility to ensure that any form you submit is accurate. If you fail to submit a correctly completed form in a timely manner to the email address specified, obsolete account details may be used for collateral or payment instructions.

Other Asset Purchase Facility documentation

Corporate Bond Purchase Scheme applicants should complete the operational contacts and settlement information form, and email it to BPFRDMarketSettlement@bankofengland.co.uk.

Gilt Purchases applicants should fill out the gilts data collection form.
 

Collateral management

We operate a collateral pooling model to manage collateral received to support our official operations. More detail on collateral pooling can be found in our Sterling Monetary Framework operating procedures, the term funding scheme operating procedures or in the following documents:
 
 
Collateral Management Portal
 
The Collateral Management (CM) Portal is an applet which allows participants in our operations to view and manage their associated collateral and exposures with the Bank through a SWIFT-based interface.
 
Collateral Management Portal user guide

How do I sign up for the Collateral Management Portal?
 
The Collateral Management Portal will be offered to new participants when they sign up to our operations.
 
For more information on the CM Portal, email BSCMC@bankofengland.co.uk.
 
To register to use the CM Portal or amend/delete a current CM Portal user, download the registration form, follow the instructions and return it to us at cmc.ssi@bankofengland.co.uk.

To access the Collateral Management Portal, you will need to ensure your institution is a member of both testing and live SWIFT closed user groups (CUGs), which you can access at the following links:
 
CUG registration details
Owner
Link
Collateral Management Portal - trial (test)
BKENGB2L
Collateral Management Portal (live)
BKENGB2L

Further information about the SWIFT service and how it relates to the Collateral Management Portal registration process can be provided on request to BSCMC@bankofengland.co.uk
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