Key points from the 2018 Q3 Asset Purchase Facility report
During 2018 Q3:
- No corporate bond purchases took place during the quarter.
- Total lending by the Term Funding Scheme, which closed to new drawings on 28 February 2018, fell by £0.01 billion during 2018 Q3, ending the quarter at £126.45 billion.
- During Q3 the APF made £2.86 billion of gilt purchases.
- During 2018 Q3, nominal gilt yields rose on average by around 18 basis points.
- Sterling investment-grade non-financial corporate bond spreads narrowed marginally over 2018 Q3.
- Gross issuance of corporate bonds by UK private non-financial corporations in 2018 Q3 was lower than in 2017 Q3 and higher than the 2003–08 Q3 average.
Asset Purchase Facility Quarterly Report - 2018 Q3