News Release
Timetable for Bank of England Money Market Operations
13 May 1998
The Bank of England today announced proposals for minor adjustments in its daily operations in the sterling money markets.
The adjustments, which are essentially technical in nature, reflect forthcoming changes in the operating structure of the market. The timetable for the Bank’s daily operations will be extended in line with similar changes being introduced by the CHAPS payments system. In addition the discount houses temporary transitional facility is being phased out as forseen when the Bank reformed its money market operations last year.
Market participants are being consulted on the proposals, which are set out in the attached consultative paper.
Subject to market comments the adjustments will come into operation on 1 June.
