2. Operations to make these gilt purchases will be held in the week beginning 26 January 2015. This schedule of operations will be kept under review by the Bank.
3. In line with its normal practice, the Bank expects to conduct three auctions in that week: gilts with a residual maturity of 3-7 years will be purchased on Monday 26 January; of over 15 years on Tuesday 27 January; and of 7-15 years on Wednesday 28 January.
4. The Bank intends to purchase evenly across the three gilt maturity sectors. The size of auctions will initially be £1,450mn for each maturity sector.
5. The range of gilts eligible for purchase will remain unchanged from previous operations.
6. The Bank will confirm details of the operations on Thursday 22 January at 16.00. The Bank does not currently intend to purchase gilts where the Bank holds more than 70% of the “free float”, i.e. the total amount in issue minus government holdings. The Bank will, however, continue to keep the identity of gilts eligible for purchase in the APF under review.
7. Other than as amended by this Market Notice, previous Market Notices relating to the Bank’s gilt purchases under the APF will apply.