During 2009 Q2:
- Yields on nominal gilts were volatile during 2009 Q2 but generally rose and, for short to medium-term rates, ended the period higher than prior to the March MPC announcement.
- The market for sterling investment-grade non-financial commercial paper continued to improve during 2009 Q2.
- UK banks issued less paper under the CGS during 2009 Q2 than the previous quarter and issued more unguaranteed debt as conditions in the markets for both short-term and longer-term unguaranteed bank funding improved.
Asset Purchase Facility Quarterly Report – 2009 Q2