From: RegTech Analyst
Back in March, the Bank of England introduced measures to support banks and financial institutions during the COVID-19 crisis. But now it has signalled that the support is about to end.
The central bank has said that it will begin to phase out its support as the markets have calmed down, Reuters reported.
The support consisted banks being able to borrow £11.1bn in three-month funds from the Bank of England’s Contingent Term Repo Facility in exchange for high-quality collateral.
The three month Contingent Term Repo Facility operations will stop at the end of May.
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