Bank of England Asset Purchase Facility - Commercial Paper; Working Capital

Update 30 July 2009

Secured commercial paper facility

The Bank of England has today published details of its Secured Commercial Paper Facility (SCP) to support the provision of working capital to a broad population of companies. The SCP will offer to buy securities backed by assets such as trade receivables consistent with the APF’s aim to purchase high-quality assets of broadly investment grade. The purpose of the Facility is to help improve the function of the private market by standing ready to make primary market purchases and by acting as a backstop for secondary market investors. Further details are published in a Market Notice available at:
www.bankofengland.co.uk/markets/marketnotice090730.pdf