Results and usage data

Participation in the Sterling Monetary Framework

The number of firms participating in the Sterling Monetary Framework (as at 20 March 2025) are:

Sterling Monetary Framework

220

Reserves Accounts and Operational Standing Facilities

213

Open Market Operations

127

Discount Window Facility

167

Operational Standing Facilities

We do not publish data on individual Operational Standing Facilities transactions. We publish aggregate data on OSFs drawings Opens in a new window on the third Wednesday of the following maintenance period on the Bank of England Database.

Short-Term Repo results

Short-Term Repo OMOs by operation (XLSX 0.1MB)

Indexed Long-Term Repo results

Discount Window Facility

We do not publish data on individual transactions within the Discount Window Facility. We update aggregate data on DWF drawings Opens in a new window on the first Tuesday following the final working day of the calendar quarter, five quarters ahead.

Contingent Term Repo Facility

Contingent Term Repo Facility results (XLSX 0.1MB)

Liquidity Facility in Euros (LiFE)

Time series date on the results of the Euro repo operations (XLSX 0.1MB)

US Dollar repo operations

Time series data on the results of the US Dollar repo operations (XLSX 0.1MB)

Asset Purchase Facility - Gilt Operations

Data as at close 19 March 2025, reported on a settlement date basis in initial purchase proceeds

The headline figure above takes into account any sales and redemptions. We publish a more detailed breakdown of our sales operations, including nominal and sales proceeds, in the spreadsheet below. This data is reported on a trade date basis and updated following any gilt operation.

We also publish data on gilt maturities and the overall maturity profile of the stock of gilts held in the APF, in terms of initial purchase proceeds, in the spreadsheet below:

Maturity profile of the stock of gilts held in the APF – Table (XLSX 0.7MB)

This profile is usually updated on Thursdays at 3pm when an APF operation has occurred in the preceding week and/or a gilt from the portfolio has reached maturity.

Asset Purchase Facility (APF) Data Explained

The Asset Purchase Facility (APF) is a subsidiary of the Bank that carries out the Bank’s quantitative easing program – further information on quantitative easing can be found in this 2022 Q1 Quarterly Bulletin. The below sections are designed to provide transparency and clarity on the data we publish regarding the APF’s operations.

There are three main categories of published data associated with APF purchases and sales:

Data category	Definition
Nominal	The ‘face value’ of the asset, representing the amount that will be repaid upon maturity. The nominal amount is not necessarily the same as the cost of the asset if purchased at any point in its lifetime. The nominal is the amount of money the holder will receive at maturity.
Initial Purchase Proceeds	The amount initially paid by the APF when purchasing the asset. It is equal to the amount of central bank reserves created by the Bank to fund the underlying loan which in turn is used to make the asset purchase.
Sales Proceeds	The amount of money paid to the APF in exchange for the asset when the APF is selling assets.

During periods of asset purchases, data in relation to asset purchase operations were expressed in initial purchase proceeds. This is the amount the APF paid to purchase the relevant asset.

During periods of asset sales, data in relation to asset sales operations are expressed in sales proceeds. This is the amount market participants have paid to the APF to buy the relevant asset offered for sale.

When monitoring the progress of APF unwind, the initial purchase proceeds and sales proceeds are likely to differ for any given asset. This is due to changes in the market value of gilts over time. Initial purchase proceeds are equal to the value of central bank reserves that will ultimately be extinguished by unwinding the APF.

There are two main sets of data published by the Bank in relation to the APF:

The results of APF purchase and sale operations

These are updated after each asset sales operation to show sales proceeds and nominal data. Initial purchase proceeds and nominal data is also available for past asset purchase operations.

The APF’s gilt purchase operational results include total allocation in both initial purchase proceeds and nominal figures in columns F and G respectively. The gilt sales operational results include total allocation in both sales proceeds and nominal figures in columns G and H respectively.

The ‘current stock of holdings’ within the APF

The latest stock of holdings are published via the Bank’s online interactive database, providing the overall value of assets held within the APF for both gilts Opens in a new window and corporate Opens in a new window bonds.

What does ‘current stock of holdings’ mean?

Each Thursday, the Bank publishes updated stock of holdings figures in initial purchase proceeds. This figure represents the sum of assets purchased, minus any maturities, redemptions or sales to date. It is reported on a settlement date basis as of close of business the previous working day (usually a Wednesday).

The stock of holdings is a critical data point for the APF, acting as the primary way APF sales targets are set by the MPC. For example, in September 2023, the MPC agreed that the stock of UK government bond purchases should be reduced by £100 billion over the 12-month period from October 2023 to September 2024.

Diagram 1: Stylised calculation of APF stock of holdings figures.

Please Note: In Diagram 1 above, the ‘maturities’ and ‘sales’ boxes reflect the initial purchase proceeds of that asset (the amount of reserves initially created to fund the purchase of the asset which is maturing or has been sold) and the stock of holdings figure will reduce by this amount. They do not reflect either the cash paid to the APF at the point of sale or upon maturity of an asset. As the size of the APF’s purchases were always measured in the amount of money used during the period of asset purchases, both sales and maturities must be measured in the same way using initial purchase proceeds.

Results and Usage – current stock of holdings

This page contains the stocks of holdings figures for gilts as shown above in the blue banner. These are updated weekly and are in initial purchase proceeds.

Bank of England database – current stock of holdings

The Bank also publishes the following data timeseries on the current stock of assets within the APF on a weekly basis:

Gilts	Corporate Bonds	Total assets within the APF (Gilts + CB)
Gilts initial purchase proceeds Opens in a new window	CB initial purchase proceeds Opens in a new window	Total assets initial purchase proceeds Opens in a new window
Gilts Nominal Opens in a new window ¹	CB Nominal Opens in a new window

Please note: Any ‘stock of holdings’ figure can only be given in either initial purchase proceeds or in nominal figures. It cannot be represented in sales proceeds as the total portfolio has not been unwound.

Any disparities between the purchase proceeds and sales/maturity proceeds of any APF asset will be reconciled in accordance with the APF indemnity. For further information on cash transfers between the APF and HM Treasury Opens in a new window.

[1] The nominal value of gilts in the APF can be found in column C of this spreadsheet.

Diagram 2: APF operations using the key definitions - stylised example of the lifecycle of APF gilt operations.

The diagram below shows the full cycle of APF operations, highlighting where the above definitions fit in. All figures used in the diagram are purely for illustrative purposes.

Term Funding Scheme with additional incentives for SMEs (TFSME)

Data as at close 19 March 2025

The Bank will publish on this page quarterly data showing, for each group participating in the TFSME, the amount borrowed from the Scheme and the net quarterly flows of lending to UK households and firms. The first publication on 4 June 2020 will show lending data only. This will include participants’ base stock of lending as of end-December 2019, and Q1 net quarterly flows of lending for participants who have had this data certified by end-May.

Quarterly provisional publication dates for 2024 are set out in the table below.

Publication date	Period covered (up to)
13 March 2025	Q4 2024
12 June 2025	Q1 2025
11 September 2025	Q2 2025
11 December 2025	Q3 2025

TFSME Group	Quarterly net TFSME drawings (drawings less repayments) (£mn)	Aggregate outstanding TFSME drawings as at 31/12/2024 (£mn)
TFSME Group	Q4 2024	Aggregate outstanding TFSME drawings as at 31/12/2024 (£mn)
TOTAL	(19,041)	102,672
AIB Group (UK)	-	-
Aldermore	-	465
Allica Bank	-	-
Arbuthnot Latham	-	190
Atom Bank	(176)	339
Bank of Ireland *	(550)	930
Barclays (NRFB)	-	3,350
Barclays (RFB)	-	15,000
BNP Paribas	-	-
Buckinghamshire Building Society	(4)	12
Cambridge & Counties Bank	(5)	55
Cambridge Building Society	(40)	35
Chorley & District Building Society	-	8
Close Brothers	-	110
Co-operative	(600)	2,496
Coventry Building Society	(910)	2,040
Cumberland Building Society	(10)	80
Cynergy Bank	(50)	80
Darlington Building Society	-	10
Dudley Building Society	-	-
Furness Building Society	(10)	20
Habib Bank Zurich	(5)	50
Hampshire Trust Bank	-	295
Hinckley & Rugby Building Society	(9)	10
HSBC (RFB)	-	10,300
Investec Bank	-	700
Julian Hodge Bank	(40)	115
Leeds Building Society	-	1,130
Leek United Building Society	(9)	61
Lloyds Banking Group (RFB)	(8,100)	21,900
Mansfield Building Society	(8)	30
Market Harborough Building Society	-	47
Marsden Building Society	(41)	5
Melton Mowbray Building Society	(13)	22
Metro Bank	(2,650)	400
Monmouthshire Building Society	-	95
National Counties Building Society	-	150
Nationwide Building Society *	-	5,270
Natwest (RFB)	-	12,000
Newbury Building Society	(6)	44
Newcastle Building Society	(60)	355
Northern Bank	-	350
Nottingham Building Society	-	180
OakNorth Bank	-	200
OneSavings Bank	(256)	1,378
Paragon Bank	-	750
PCF Bank	-	0
Principality Building Society	-	550
Progressive Building Society	(10)	40
RCI Bank UK	-	409
Redwood Bank	(6)	19
Saffron Building Society	(30)	100
Sainsbury's Bank	(175)	-
Santander (NRFB)	-	1,250
Santander (RFB)	(2,000)	11,000
Scottish Building Society	(5)	20
Secure Trust Bank	(55)	230
Shawbrook Bank	(200)	800
Skipton Building Society	(150)	1,000
Starling Bank	-	2,150
Suffolk Building Society	(5)	25
Tandem Bank	-	24
Teachers Building Society	(5)	15
Tesco Bank	(750)	-
Tipton & Coseley Building Society	-	40
TSB Bank	(850)	1,385
United Trust Bank	(40)	50
Vanquis Bank	(74)	-
Virgin Money	(1,000)	1,950
Wesleyan Bank	-	-
West Bromwich Building Society	(135)	410
Yorkshire Building Society	-	-
Zopa Bank	-	150

Alternative Liquidity Facility

We do not publish data on individual transactions within the Alternative Liquidity Facility. We update monthly average aggregate data on ALF usage each month, with a one-quarter delay.

Bank of England Database Opens in a new window

We publish a list of the assets that form the composition of the ALF backing fund. This information is updated when there are changes to asset composition.

ALF backing fund assets Opens in a new window

Historic facilities and schemes

The Funding for Lending Scheme (FLS)

We launched the FLS in July 2012, during the euro area debt crisis. Further information on the facility can be found in the Bank of England Market Operations Guide, and scheme usage data in the Bank of England Database Opens in a new window.

A quarterly account of total outstanding FLS drawings by firm is available below:

FLS more detailed data (XLSX)

The Term Funding Scheme (TFS)

We introduced TFS in August 2016, aiming to reinforce the pass through of the cut in Bank Rate at that time to the interest rates faced by households and companies in the wider market. Further information on the facility can be found in the Bank of England Market Operations Guide, and scheme usage data in the Bank of England Database Opens in a new window.

A quarterly account of total outstanding TFS drawings by firm is available below:

TFS more detailed data (XLSX)

The Covid Corporate Financing Facility (CCFF)

In conjunction with HM Treasury, we launched CCFF in March 2020, during the Covid-19 crisis. Further information on the facility can be found in the Bank of England Market Operations Guide, and facility usage data in the Bank of England Database Opens in a new window.

A firm-level, weekly account of outstanding commercial paper held by the CCFF is available below:

CCFF more detailed data (XLSX)

Additional information on operations, facilities and schemes that have been closed or suspended is available via the Bank of England Database and the National Archives Opens in a new window.

Asset purchase facility – financial stability gilt portfolio

The Bank carried out a series of temporary and targeted purchases of UK government bonds between 28 September and 14 October 2022, in line with its financial stability objective. Further information is provided in Historic Facilities section of our Market Operations Guide.

Gilt Purchases

Data on the value of each of the bonds bought under the Bank's temporary financial stability gilt purchases is published here:

Gilt Sales

A detailed breakdown of the results of these gilt sales, including in nominal and sales proceeds terms, is provided in the spreadsheet below. This data is reported on a trade date basis.

Financial stability gilt portfolio sales results (XLSX 0.5MB)

Asset purchase facility – Corporate Bond Purchase Scheme

The Bank concluded planned sales of the Corporate Bond Purchase Scheme (CBPS) in June 2023. Further information is provided in the Historic Facilities section of our Market Operations Guide.

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Results and usage data

In this section

On this page

Participation in the Sterling Monetary Framework

Operational Standing Facilities

Short-Term Repo results

Indexed Long-Term Repo results

Discount Window Facility

Contingent Term Repo Facility

Liquidity Facility in Euros (LiFE)

US Dollar repo operations

Asset Purchase Facility - Gilt Operations

Current stock of gilts £622,521 million

Asset Purchase Facility (APF) Data Explained

The results of APF purchase and sale operations

The ‘current stock of holdings’ within the APF

What does ‘current stock of holdings’ mean?

Results and Usage – current stock of holdings

Bank of England database – current stock of holdings

Term Funding Scheme with additional incentives for SMEs (TFSME)

Current loans made through the Term Funding Scheme with additional incentives for SMEs £96,586 million

Alternative Liquidity Facility

Historic facilities and schemes

The Funding for Lending Scheme (FLS)

The Term Funding Scheme (TFS)

The Covid Corporate Financing Facility (CCFF)

Asset purchase facility – financial stability gilt portfolio

Gilt Purchases

Gilt Sales

Asset purchase facility – Corporate Bond Purchase Scheme

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Necessary cookies

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Results and usage data

In this section

On this page

Participation in the Sterling Monetary Framework

Operational Standing Facilities

Short-Term Repo results

Indexed Long-Term Repo results

Discount Window Facility

Contingent Term Repo Facility

Liquidity Facility in Euros (LiFE)

US Dollar repo operations

Asset Purchase Facility - Gilt Operations

Current stock of gilts £622,521 million

Asset Purchase Facility (APF) Data Explained

What are the main categories of APF data?

Where do we provide APF data?

How do APF operations work?

Term Funding Scheme with additional incentives for SMEs (TFSME)

Current loans made through the Term Funding Scheme with additional incentives for SMEs £96,586 million

Latest TFSME data

Alternative Liquidity Facility

Historic facilities and schemes

The Funding for Lending Scheme (FLS)

The Term Funding Scheme (TFS)

The Covid Corporate Financing Facility (CCFF)

Asset purchase facility – financial stability gilt portfolio

Gilt Purchases

Gilt Sales

Asset purchase facility – Corporate Bond Purchase Scheme

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