The Treasury Committee has sent questions to the Bank of England, following the announcement that it would expand maximum daily gilt purchases from £5bn to £10bn.
This week, the bank said that, along with the maximum purchase rise, it would launch a Temporary Expanded Collateral Repo Facility (TECRF) and extend its daily gilt purchases to include index-linked gilts, which would end on Thursday 10 November. In the letter, the chair of the Treasury Committee Mel Stride asked the Bank's deputy governor for financial stability Jon Cunliffe for an update on the interventions, and requested they explained to what extent "further action will be required to prevent risks to financial stability". The committee also asked Cunliffe to explain how the ban...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
