Information for participants

Further information about our facilities for participants

Schedule of operations

The table below outlines when our market operations will normally take place.

We reserve the right to change the dates or frequency of these operations in light of bank holidays or developments in market conditions or for operational reasons.

Operation Day Time
Index Long-Term Repos Tuesday (usually once per month, currently once per week) 10am to 10:30am
Operational Standing Facilities Monday to Friday (on demand) Until 6.10pm (6.20pm on the last day of the maintenance period)
Discount Window Facility Monday to Friday (on demand) Participants are advised to contact us by noon if they wish to make a drawing on the same day
US dollar repo  Wednesday (once per week)  8.30am to 8.45am 
Liquidity Facility in Euros (LiFE)  Wednesday (once per week)  10am to 10.15am 

Schedule of Indexed Long-Term Repo operations

Operation date Settlement date Maturity date
07 January 2020 09 January 2020 09 July 2020
14 January 2020 16 January 2020 09 July 2020
21 January 2020 23 January 2020 09 July 2020
28 January 2020 30 January 2020 09 July 2020

Schedule of euro and US dollar repo operations

We keep the frequency and maturity of our euro and US dollar operations under review in light of market conditions. The following tables contain a schedule of the latest operations:

Liquidity Facility in Euros (LiFE) operations

Operation date Term Settlement date Maturity date
08 January 2020 7 days 09 January 2020 16 January 2020
15 January 2020 7 days 16 January 2020 23 January 2020
22 January 2020 7 days 23 January 2020 30 January 2020
29 January 2020 7 days 30 January 2020 06 February 2020
05 February 2020 7 days 06 February 2020 13 February 2020
12 February 2020 7 days 13 February 2020 20 February 2020
19 February 2020 7 days 20 February 2020 27 February 2020
26 February 2020 7 days 27 February 2020 05 March 2020
04 March 2020 7 days 05 March 2020 12 March 2020
11 March 2020 7 days 12 March 2020 19 March 2020
18 March 2020 7 days 19 March 2020 26 March 2020
25 March 2020 7 days 26 March 2020 02 April 2020

US dollar operations

Operation date Term Settlement date Maturity date
08 January 2020 7 days 09 January 2020 16 January 2020
15 January 2020 7 days 16 January 2020 23 January 2020
22 January 2020 7 days 23 January 2020 30 January 2020
29 January 2020 7 days 30 January 2020 06 February 2020
05 February 2020 7 days 06 February 2020 13 February 2020
12 February 2020 7 days  13 February 2020 20 February 2020
19 February 2020 7 days 20 February 2020 27 February 2020
26 February 2020 7 days 27 February 2020 05 March 2020
04 March 2020 7 days 05 March 2020 12 March 2020
11 March 2020 7 days 12 March 2020 19 March 2020
18 March 2020 7 days 19 March 2020 26 March 2020
25 March 2020 7 days 26 March 2020 02 April 2020

Operational Standing Facilities

Our Operational Standing Facilities (OSFs) allow firms to deposit reserves with or borrow reserves directly from us. Currently we apply the following rates to these two facilities:

  • borrowing through OSF lending: 1.0%
  • placing reserves with us through OSF deposits: 0.5%.

Further information on Asset Purchase Facility operations

Sector share of corporate bond purchases

To make sure purchases are representative of issuance, we allocated each bond that was eligible for purchase to one of nine sectors, using a common sector classification. See the share of our purchases within the sectors.

Issuer and security eligibility for corporate bond purchases

We have published an updated list of the sterling corporate bonds that we will offer to purchase on behalf of the BEAPFF:

If you have any enquiry about eligible bonds, email eligible.securities@bankofengland.co.uk. Requests to consider additional corporate bonds which are not on the list should include the International Securities Identification Number (ISIN), prospectus or offering circular, pricing supplement or final terms and, if relevant, the guarantee.

Counterparties in the Corporate Bond Purchase Scheme must submit to us an indication of the bonds they would like to sell or take a position in (dealer axes). We have a template for providing this information:

You should send your submission to APF_CorporateBond_DealersInfo@bankofengland.co.uk, preferably by close of business on a daily basis, but at least by close of business on the first working day of the week.

Cash transfers between BEAPFF and Her Majesty’s Treasury (HMT)

BEAPFF receives interest on the gilts and corporate bonds it holds, which were purchased using a loan from the Bank. Interest income is used to pay administrative costs, and interest on the loan. The net balance is transferred between BEAPFF and HMT every quarter. More detail about this process can be found in the following document:

Lending of gilts bought in APF Gilt Purchase Operations

We have agreed that we will make a small proportion of the gilts purchased available to the UK Debt Management Office (DMO) for on-lending to the market through the DMO’s normal repo market activity. We issued a joint statement on this in 2009.

How are market operations carried out?

Our electronic tendering system, Btender, is used to carry out auction operations. All counterparties that sign up to our auction operations must use Btender. You will also require access to SWIFTnet.

To contact the Sterling desk, call +44 (0) 20 3461 5000 or email Markets-SMDDealers@bankofengland.co.uk.

SMF Authorised Signatory Evidence Form

As a participant in the Sterling Monetary Framework, you are required to provide an authorised signatory evidence form and documentary evidence to support the authorised signatories. This form must be completed on behalf of your organisation and responsibility is with you, the participant, to keep this up to date, and inform the Bank of any updates or amendments in a timely and efficient manner.

To update your authorised signatory evidence form, complete our pro forma:

Evidence of authority and specimen signatures are required for the individual(s) signing off the form. We encourage you to read our guidance note on supporting evidence:

Please submit the form, and supporting evidence to Applications@bankofengland.co.uk.

Contact details

This page was last updated 22 January 2020
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