By Michael Cross of the Bank's Foreign Exchange Division, Paul Fisher, Executive Director Markets and Olaf Weeken of the Bank's Sterling Markets Division.
This article sets out how monetary policy implementation and liquidity provision during the financial crisis have affected the size and composition of the Bank of England's balance sheet. It extends and updates a recent speech by Paul Fisher, Executive Director Markets, and describes the main components of the Bank's balance sheet prior to and during the crisis.
The Bank's balance sheet during the crisis