Correspondence

Asset Purchase Facility (APF) ceiling, May 2026

The Chancellor of the Exchequer and the Governor of the Bank of England jointly agreed to reduce the maximum authorised size of the APF. This was confirmed via a letter exchange on 5 May 2026.

From:
HM Treasury
Published
5 May 2026

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England 5 May 2026

PDF, 90.9 KB, 2 pages

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Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 5 May 2026

PDF, 154 KB, 2 pages

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Details

The letters exchanged between the Chancellor and the Governor agreed to reduce the maximum authorised size of the APF. The decision was in line with an approach agreed in February 2022 where the Chancellor and Governor decided to periodically reduce the maximum authorised size of the APF as the size of the APF falls.

Updates to this page

Published 5 May 2026

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