Update on the Contingent Term Repo Facility (CTRF) - Market Notice 19 June 2020

The Bank of England is today announcing that, in light of continued improvements in funding market conditions and recent usage patterns, it will discontinue 1-month Contingent Term Repo Facility (CTRF) operations at the end of June 2020. The final operation is scheduled to take place on 26 June 2020.
Published on 19 June 2020

CTRF operations can be rapidly reintroduced at any stage if justified by market conditions. The Bank stands ready to do so if necessary, and will continue to monitor market conditions closely.

The Bank’s regular liquidity insurance facilities will continue to operate including the 6-month Indexed Long-Term Repo (ILTR) which currently operates weekly; and the on-demand Discount Window Facility (DWF).  

The indicative schedule of all the Bank’s market operations can be found on the Bank’s information for participants webpage.

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.

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