HM Treasury and Bank of England extend Ways and Means Facility

HM Treasury and Bank of England extend Ways and Means Facility

HM Treasury and the Bank of England (the Bank) have agreed to extend temporarily the use of the government’s long-established Ways and Means (W&M) facility. 

 

As a temporary measure, this will provide a short-term source of additional liquidity to the government, if needed, during the pandemic.

 

The W&M facility is the government’s pre-existing overdraft at the Bank. Any drawings are expected to be repaid as soon as possible before the end of the year.

 

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