Hm Treasury
January 16
14:59
2023
Details
On 28 September, the Bank announced that it would carry out temporary purchases of long-dated UK government bonds (gilts) through the Asset Purchase Facility (APF) under the Banks financial stability objective to restore orderly conditions. Total gilt purchases under this temporary operation reached 19.3 billion when the daily auctions ended as planned on 14 October.On 29 November 2022, the Bank began to unwind its financial stability related gilt portfolio in a timely and orderly way and completed the process on 12 January 2023. The Chancellor and Governor have therefore agreed to reduce the authorised maximum size of the APF from 871 billion, as was agreed on 23 November to 851 billion.