The Bank of England is announcing today that it will continue to offer Indexed Long-Term Repo (ILTR) operations on a weekly basis until end-June 2019.
This is a precautionary step to provide additional flexibility in the Bank’s provision of liquidity insurance over the coming months.
The indicative extended schedule of operations is set out in Table 1.
Details of each operation will be published on the Bank’s wire services page in advance.Other than as amended by this Market Notice, the Terms and Conditions and Operating Procedures for participation in the Bank’s Sterling Monetary Framework will apply to these ILTR operations.
As usual, the Bank will continue to offer liquidity insurance via its other facilities, including its Liquidity Facility in Euros and US Dollar Repo operations, throughout this period. See the schedule of weekly US Dollar Repo and Liquidity Facility in Euros operations.
The Bank will continue to monitor market conditions carefully and stands ready to take additional action if necessary.
Table 1: Extended schedule of weekly ILTRs
| Operation date | Settlement date | Maturity date |
|---|---|---|
| 9 April 2019 | 11 April 2019 | 3 October 2019 |
| 16 April 2019 | 18 April 2019 | 3 October 2019 |
| 23 April 2019 | 25 April 2019 | 3 October 2019 |
| 30 April 2019 | 2 May 2019 | 3 October 2019 |
| 7 May 2019 | 9 May 2019 | 7 November 2019 |
| 14 May 2019 | 16 May 2019 | 7 November 2019 |
| 21 May 2019 | 23 May 2019 | 7 November 2019 |
| 28 May 2019 | 30 May 2019 | 7 November 2019 |
| 4 June 2019 | 6 June 2019 | 5 December 2019 |
| 11 June 2019 | 13 June 2019 | 5 December 2019 |
| 18 June 2019 | 20 June 2019 | 5 December 2019 |
| 25 June 2019 | 27 June 2019 | 5 December 2019 |
