Market notice
The Bank of England, in co-ordination with other central banks, has today decided to further enhance the provision of liquidity via the standing US dollar liquidity swap line arrangements.
In line with this, the Bank will increase the frequency of 7-day maturity US dollar repo operations from weekly to daily, commencing 20 March 2023.
These daily operations will continue until at least the end of April 2023. An indicative schedule is set out below:
|
Operation date |
Term |
Settlement date |
Maturity date |
|
20 March 2023 |
7 days |
21 March 2023 |
28 March 2023 |
|
21 March 2023 |
7 days |
22 March 2023 |
29 March 2023 |
|
22 March 2023 |
7 days |
23 March 2023 |
30 March 2023 |
|
23 March 2023 |
7 days |
24 March 2023 |
31 March 2023 |
|
24 March 2023 |
7 days |
27 March 2023 |
3 April 2023 |
|
27 March 2023 |
7 days |
28 March 2023 |
4 April 2023 |
|
28 March 2023 |
7 days |
29 March 2023 |
5 April 2023 |
|
29 March 2023 |
7 days |
30 March 2023 |
6 April 2023 |
|
30 March 2023 |
6 days |
31 March 2023 |
6 April 2023 |
|
31 March 2023 |
8 days |
3 April 2023 |
11 April 2023 |
|
3 April 2023 |
7 days |
4 April 2023 |
11 April 2023 |
|
4 April 2023 |
7 days |
5 April 2023 |
12 April 2023 |
|
5 April 2023 |
7 days |
6 April 2023 |
13 April 2023 |
|
6 April 2023 |
7 days |
11 April 2023 |
18 April 2023 |
|
11 April 2023 |
7 days |
12 April 2023 |
19 April 2023 |
|
12 April 2023 |
7 days |
13 April 2023 |
20 April 2023 |
|
13 April 2023 |
7 days |
14 April 2023 |
21 April 2023 |
|
14 April 2023 |
7 days |
17 April 2023 |
24 April 2023 |
|
17 April 2023 |
7 days |
18 April 2023 |
25 April 2023 |
|
18 April 2023 |
7 days |
19 April 2023 |
26 April 2023 |
|
19 April 2023 |
7 days |
20 April 2023 |
27 April 2023 |
|
20 April 2023 |
7 days |
21 April 2023 |
28 April 2023 |
|
21 April 2023 |
8 days |
24 April 2023 |
2 May 2023 |
|
24 April 2023 |
7 days |
25 April 2023 |
2 May 2023 |
|
25 April 2023 |
7 days |
26 April 2023 |
3 May 2023 |
|
26 April 2023 |
7 days |
27 April 2023 |
4 May 2023 |
|
27 April 2023 |
7 days |
28 April 2023 |
5 May 2023 |
|
28 April 2023 |
7 days |
2 May 2023 |
9 May 2023 |
The Bank will announce details of the day’s US dollar repo operation and the rate applicable for that day’s operation at 8.15am London time. The operations will take place at 8.15am London time, and the closing time for bids will be 8.45am London time. The results of the day’s USD repo operation will be announced by the Bank at 10am London time or as soon as possible thereafter.
The pricing for 7-day standing US dollar repo operations will be the matched maturity U.S. dollar overnight index swap (OIS) rate plus 25 basis points.
Other than as amended by this Market Notice, the terms contained within the Consolidated Market Notice for US dollar repo operations dated 1 July 2021 notice, will apply to these operations in addition to any other relevant Market Notices. US dollar repo operations are also subject to the Sterling Monetary Framework Documentation, as supplemented and amended by the Supplementary Terms for USD Repo Operations published by the Bank on 8 August 2022, which may be updated by the Bank of England from time to time.