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UK Cuts APF Cap From £886B To £871B

  • The UK Chancellor and BoE Governor have agreed to further cut the APF cap in the six monthly update in line with the reduction in the stock of assets.
  • "We recently agreed to reduce the maximum size of the APF from £966bn to £886bn to reflect the unused portion of the recent financial stability related APF expansion. I am writing to agree to reduce the authorised maximum size of the APF from £886 billion to £871 billion, of which up to £16.4 billion can be corporate bonds. This aligns with the current size of the APF that you reported to me. This will be reviewed and confirmed between us again in April 2023."
  • Letter found here.

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