BoE report details ‘innovative’ liquidity insurance tool
Indexed long-term repos automatically adjust to market stress
The Bank of England (BoE) outlines some of the key features of its indexed long-term repos (ILTRs), in particular their automatic adjustment to market stress, in a quarterly bulletin article published today (June 18).
In the article, authors Tarkus Frost, Nick Govier and Tom Horn describe the "innovative" features of ILTRs, which were introduced in 2007 as a form of emergency liquidity and updated with new features in 2014. "Two automatic responses are now built into each ILTR operation," they
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