Notice issued by the Bank of England on 13 April 1987.
In its paper 'The future structure of the gilt-edged market: official operations' (18.9.86) the Bank indicated its intention to explore with market participants possible arrangements for a series of auctions to cover a part of the Government's funding through conventional stocks. The Bank developed these ideas further in the paper 'The gilt-edged market: a possible experiment with auctions' (13.2.87). This notice now sets out, in the light of comments received from market participants and of further internal discussion, the Bank's proposals on the form of the experiment.
The gilt-edged market: auctions