The future structure of the gilt-edged market: official operations

Quarterly Bulletin 1986 Q4
Published on 01 December 1986

This note explains how the Bank is conducting its secondary market operations in gilt-edged in the initial stages of the new market structure.

In the Bank's blue paper 'The Future Structure of the Gilt- Edged Market' ( April 1985) the Bank indicated that it would in due course wish to examine the possibility that a part of the funding programme might be put on a more regular footing, with greater reliance on the primary gilt-edged market. To this end we intend, later this year, once the initial change in market structure has taken place, to explore with market participants the detailed form of a possible experimental series of auctions covering a part of the Government's funding through conventional stocks. In the meantime we have no present plans significantly to alter our methods of operation in the primary market.

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