Collateral and settlement

When we lend to financial institutions through our market operations, they need to put up collateral in exchange.

Standard Settlement Instructions

We provide a set of Standard Settlement Instructions to make sure that your collateral settlement instructions are able to pass quickly through Bank of England systems and out to the market. This enables faster processing and timelier collateral settlement, resulting in quicker advances of cash, gilts or Treasury bills (T-bills) to you.

Our securities settlement instructions set out the Standard Settlement Instructions for the following operations:

Collateral settlement templates

ExcelConfirmation template

PDFConfirmation template user guide

PDFLoan collateral transfer notice: Bank of England

PDFLoan collateral transfer notice: Bank of England Asset Purchase Facility Fund Limited

Operational static data

Participants in our operations must provide us with static data to allow us to process securities and cash transactions and to select certain options for reporting.

We will request this data when you apply to become a new participant or if you are an existing participant applying for a new operation.

Changing your static data

We recognise that your static data may change from time to time. It is important that you notify us of any changes using the data collection form in good time. 

All updates will be made as soon as possible, or on the ‘effective date’ if you have specified this on the form. However, please allow up to three days for us to complete updates. We will try to make any amendments required sooner than this on a reasonable endeavours basis.

Please follow the instructions on the data collection form and make sure that it is signed by the correct authorised signatories according to your institution’s authorised signatory list. Email your completed form and your authorised signatory list to The authorised signatory list should include:

  • The full name of the participating institution.
  • The effective date of the list.
  • Certification by the company secretary (or equivalent person able to certify) that the signatures are true and authentic.
  • Whether each authorised signatory can act alone or if joint signatories are required.

We will assume that the list you provide is valid and up to date. It is your responsibility to notify us if changes need to be made to your authorised signatory list.

We will update our records based on the most recently submitted, appropriately authorised static data form. It is therefore your responsibility to ensure that any form you submit is accurate. If you fail to submit a correctly completed form in a timely manner to the email address specified, obsolete account details may be used for collateral or payment instructions.

Other Asset Purchase Facility documentation

Corporate Bond Purchase Scheme applicants should complete the operational contacts and settlement information form, and email it to

Gilt Purchases applicants should fill out the gilts data collection form.

Collateral management

We operate a collateral pooling model to manage collateral received to support our official operations. More detail on collateral pooling can be found in our Sterling Monetary Framework operating procedures, the term funding scheme operating procedures or in the following documents:

PDFCollateral pool: frequently asked questions 

PDFCollateral pool seminar presentation slides

Eligible collateral for liquidity insurance schemes

When we lend through our market operations, either on our own behalf or as agent for the Bank of England Asset Purchase Facility Limited (BEAPFF), we lend against collateral put up by firms. This collateral has to be of good enough quality that we can sell or keep it if a counterparty fails to repay us. 

We have high-level eligibility criteria which set a baseline for the credit quality and liquidity of the collateral we’ll accept. 

The table below sets out which levels of collateral are eligible for which operation or facility:

Collateral Level A Level B Level C
Operational Standing Facilities Y N N
Short-Term Repo OMOs Y N N
Indexed Long-Term Repo OMOs Y Y Y
Discount Window Facility Y Y Y
Contingent Term Repo Facility Y Y Y
Funding for Lending Scheme Y Y Y
Term Funding Scheme Y Y Y

PDFSummary table of collateral

PDFList of approved links between Euroclear/Clearstream and National CSDs for delivery of securities.

More information is available in the Sterling Monetary Framework.


Collateral Management Portal

The Collateral Management (CM) Portal allows participants in our operations to view and manage the collateral they hold at the Bank through a SWIFT-based interface.

PDFCollateral Management Portal user guide

How do I sign up for the Collateral Management Portal?

The Collateral Management Portal will be offered to new participants when they sign up to our operations.

For more information on the CM Portal, email

To register to use the CM Portal or amend/delete a current CM Portal user, download the registration form, follow the instructions and return it to us at

To access the Collateral Management Portal, you will need to ensure your institution is a member of both testing and live SWIFT closed user groups (CUGs), which you can access at the following links:

CUG registration details  Owner  Link 
Collateral Management Portal - trial (test) BKENGB2L  Subscribe
Collateral Management Portal (live) BKENGB2L  Subscribe 

Further information about the SWIFT service and how it relates to the Collateral Management Portal registration process can be provided on request to

This page was last updated 20 February 2018
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