Sterling Money Market Operations
Discount Window Facility
The purpose of the DWF is to provide liquidity insurance to the banking system. The Discount Window Facility is not intended for firms facing fundamental problems of solvency or viability. Eligible banks and building societies may borrow gilts, for 30 or 364 days, against a wide range of collateral in return for a fee, which will vary with the collateral used and the total size of borrowings.
Institutions eligible to participate will be banks and building societies that are required to pay cash ratio deposits (CRDs) and which otherwise meet the requirements for eligibility, as determined by the Bank, for the Bank's Sterling Monetary Framework facilities.
- Market Notice
Discount Window Facility (53k)
19 March 2009 - Market Notice
Extended-Collateral Long-Term Repo Operations; Discount Window Facility; US Dollar Repo Operations; Special Liquidity Scheme: Summary of Changes (12k)
19 March 2009 - Market Notice
Discount Window Facility: Summary of changes (10k)
3 February 2009 - Market Notice
Discount Window Facility (10k)
3 February 2009 - Market Notice
Discount Window Facility (10k)
19 January 2009
- Market Notice
Operational Standing Lending and Deposit Facilities: Discount Window Facility (86k)
20 October 2008
- Pro forma legal opinion (capacity issues only) (25k)
- Pro forma legal opinion (capacity and country issues) (28k)
- Terms and Conditions (138k)
- Procedures (248k)
Discount Window Facility Useful Documents for Participants
Banks and building societies who are eligible to use the DWF should consult the Market Notice, Procedures document and Terms and Conditions above before using the DWF. When making a drawdown participants should find the following reference materials useful:
- Bank of England Discount Window Facility -
Quick Reference Guide (136k) 
Bank of England Discount Window Facility -
Illustrative Pricing Spreadsheet (36k)
3 February 2009
Appendix I - Transaction Notice (14k)- Appendix II – Accounts (10k)
- Appendix IIII - Pre-position Securities Template (89k)
- Appendix IV - New Collateral Swap Template (44k)
- Appendix V - Margin Movement Template (88k)
- Appendix VI - Substitution of Securities Template (91k)
- Appendix VII - Termination Notice (13k)
- Appendix VIII - Termination of Swap Template (44k)
- Appendix IX – Authorised Signatories (11k)
Sterling Monetary Framework Documentation
- Application Form/Questionnaire (84k)
- Pro forma Admission Letter (27k)
- Sterling Monetary Framework Form 1 (65k)
- Sterling Monetary Framework Form 1 (158k)
- Sterling Monetary Framework Form 2 (14k)
- Sterling Monetary Framework Form 2 (28k)
- Sterling Monetary Framework Form 3 (32k)
- Sterling Monetary Framework Form 3 (59k)
