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Government funnels almost £45bn to Bank of England to cover losses
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investmentweek.co.ukAccording to the BoE's annual report published yesterday (30 July), the near £45bn of funds funnelled from the Treasury to the BoE was part of an indemnity agreement, whereby any gains or losses accrued by the bank's asset purchasing facility (APF) – which carried out its quantitative easing (QE) programme – are covered by the Treasury rather than the BoE. Since the APF's inception in 2012, capital has been transferred to the Treasury rather than from it; until July 2022 cash flows totalling £123.8bn had only ever been in one direction, from the APF into the Treasury. BoE hold 'mad...
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