Bank of England lends $15 billion to banks at repo operation


Bank borrowed more than $15 billion from the Bank of England’s U.S. dollar repo operations on Wednesday, part of measures announced by six central banks to keep the financial system working during the coronavirus outbreak.

The BoE said it lent $8.210 billion of seven-day funds in its usual weekly dollar repo operation, and $7.245 billion in a new operation for 84-day funds which forms part of the new liquidity measures announced with other central banks.

The BoE said it fulfilled all the requests that it received for the borrowing, which is secured against collateral.

Source: Reuters.