BoE to open non-bank emergency facility in Q4
Central bank working “at pace” to deliver facility, as it publishes provisional design
The Bank of England (BoE) has said it expects to open its new emergency liquidity facility to non-bank applicants in the fourth quarter of 2024.
The bank announced today (July 25) that its contingent non-bank financial institutions repurchase facility (CNRF) would offer assistance to a select group of pension funds, insurance firms and liability-driven investment (LDI) funds.
The word “contingent” emphasises that the BoE will only activate the facility during severe stress in the UK government
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