Banking
Bank of England to end euro liquidity facility
Bank of England to end euro liquidity facility
Published by maria gbaf
Posted on July 30, 2021
Global Banking and Finance Review
Company
Published by maria gbaf
Posted on July 30, 2021
LONDON (Reuters) – The Bank of England said on Thursday that it would end a facility that allowed British-based financial institutions to access funds in euros, due to improved market conditions which had removed the need for the programme.
The Liquidity Facility in Euros (LiFE) – which started in March 2019 when there were concerns that Britain’s departure from the European Union might be disorderly – will hold its last scheduled operation on Sept. 29 and close on Oct. 1.
“The Bank of England, in co-ordination with the European Central Bank, stands ready to re-adjust the provision of euro liquidity, including restarting LiFE, as warranted by market conditions,” the BoE said in a statement.
(Reporting by David Milliken; Editing by Kate Holton)
LONDON (Reuters) – The Bank of England said on Thursday that it would end a facility that allowed British-based financial institutions to access funds in euros, due to improved market conditions which had removed the need for the programme.
The Liquidity Facility in Euros (LiFE) – which started in March 2019 when there were concerns that Britain’s departure from the European Union might be disorderly – will hold its last scheduled operation on Sept. 29 and close on Oct. 1.
“The Bank of England, in co-ordination with the European Central Bank, stands ready to re-adjust the provision of euro liquidity, including restarting LiFE, as warranted by market conditions,” the BoE said in a statement.
(Reporting by David Milliken; Editing by Kate Holton)
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