3-month term CTRF operations will continue to run weekly until 30 April.
In addition, beginning this week there will also be a 1-month term CTRF operation each week, with the final operation scheduled on 1 May.
The Bank will continue to monitor market conditions carefully and the operation of the CTRF remains under review. The Bank stands ready to take additional action if necessary.
Details of each operation will be published on the Bank’s wires service page in advance. An indicative schedule of operations (which allows for Bank Holidays) is set out below:
| Operation date |
Term |
Settlement date |
Maturity date |
|---|---|---|---|
| 02 April 2020 |
3-month |
03 April 2020 |
03 July 2020 |
| 03 April 2020 |
1-month |
06 April 2020 |
04 May 2020 |
| 09 April 2020 |
3-month |
14 April 2020 |
10 July 2020 |
| 09 April 2020 |
1-month |
14 April 2020 |
11 May 2020 |
| 16 April 2020 |
3-month |
17 April 2020 | 17 July 2020 |
| 17 April 2020 |
1-month |
20 April 2020 |
18 May 2020 |
| 23 April 2020 |
3-month |
24 April 2020 |
24 July 2020 |
| 24 April 2020 |
1-month |
27 April 2020 |
26 May 2020 |
| 30 April 2020 |
3-month |
1 May 2020 |
31 July 2020 |
| 1 May 2020 |
1-month |
4 May 2020 |
1 June 2020 |
This is a further precautionary step to provide additional flexibility in the Bank’s provision of liquidity insurance over the coming months. CTRF operations will run in addition to the Bank’s regular liquidity insurance facilities including the Indexed Long-Term Repo (ILTR) and Discount Window Facility (DWF).
Other than as amended by this Market Notice and the Market Notice published on 24 March 2020, the Terms and Conditions and Operating Procedures for participation in the SMF will apply to transactions under this Facility.