In parallel with other central banks, the Bank of England is today announcing that its temporary swap line with the Federal Reserve has been extended to Monday 1 August 2011. The Bank will continue its weekly tenders of US dollar funding at fixed interest rates each Wednesday until further notice, with counterparties able to borrow unlimited amounts against eligible collateral (see note to editors). The Bank will keep the frequency and maturity of its US dollar repo operations under review, in light of market conditions.


US dollar repo operations are subject to the terms of the Sterling Monetary Framework Documentation as supplemented and amended by the Supplementary Terms, which can be found at http://www.bankofengland.co.uk/markets/other/dollarrepo/index.htm.The US dollar term repo operations use the Wider OMO Collateral pool, details of which can also be found at http://www.bankofengland.co.uk/markets/money/wideromocollateral.htm.