The Sterling Monetary Framework is explained in our Red Book. More information about the Sterling Monetary Framework can be found in the additional documents below:
In August 2018 the Bank published a discussion paper on the Bank of England’s future balance sheet and framework for controlling interest rates. The Bank intends to engage a wide range of market practitioners and experts in this dialogue, including participants in the Sterling Monetary Framework (SMF participants), to learn more about the demand for reserves over time and plans to update on the findings from this initial stage of work in publications and speeches.
The number of firms participating in the Sterling Monetary Framework (as at 13 September 2018) are:
|Sterling Monetary Framework||207|
|Reserves accounts and Operational Standing Facilities||197|
|Open market operations||97|
|Discount Window Facility||