| Description | Includes details of the Bank's new dealing room, which began operating in the gilt-edged and money markets in January 1986. The dealing room was designed to carry out three separate functions: money market operations with the discount houses, previously carried out by Secoombe Marshall and Campion; the placing of deposits in the local authorities markets on behalf of the National Debt Office (NBO); and operations in the gilt-edged market. Includes Bank paper on possible experiment with auctions, 1987. |