Published by Global Banking & Finance Review®
Posted on September 30, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleThe Bank of England saw its highest six-month repo borrowing since 2020, with 5.085 billion pounds borrowed, as it shifts from excess reserves.
LONDON (Reuters) -Banks borrowed 5.085 billion pounds ($6.84 billion) from the Bank of England at its weekly indexed long-term repo for six-month funds on Tuesday, the greatest amount since March 2020 when there was a surge of demand at the start of the COVID-19 pandemic.
The BoE has been seeking to increase usage of the facility as it shifts away from a system of excess reserves in Britain's banking system and unwinds much of the 875 billion pounds of quantitative easing gilt purchases it bought from 2009 to 2021.
Almost all the funds were secured with the highest grade of collateral, which allows banks to borrow with no surcharge on top of the BoE's main interest rate.
Last week, the BoE allotted 2.352 billion pounds at the repo.
($1 = 0.7438 pounds)
(Reporting by David Milliken; editing by Sarah Young)
Banks borrowed 5.085 billion pounds ($6.84 billion) from the Bank of England at its weekly indexed long-term repo for six-month funds on Tuesday.
This is the greatest amount borrowed since March 2020, indicating increased usage of the repo facility.
Almost all the funds were secured with the highest grade of collateral, allowing banks to borrow without a surcharge on the BoE's main interest rate.
The BoE has been seeking to increase usage of the repo facility as it shifts away from a system of excess reserves in Britain's banking system.
Last week, the Bank of England allotted 2.352 billion pounds at the repo.
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