Reforms to the Bank of England's Operations in the Sterling Money Markets: Target Launch Date for the New Framework

The Bank is today announcing that, subject to conducting a successful dress rehearsal, it is aiming to introduce the new reserve-averaging scheme and standing facilities on 18 May 2006.
Published on 29 March 2006

This reflects continued good progress in the Bank’s own preparations and those of the prospective reserve scheme members and counterparties.

As announced in December, the Bank will finally decide the launch date following a rehearsal involving external participants in April. The contingency launch date is 15 June.

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