Old Lady to begin buying commercial paper mid-Feb

The Bank of England's commercial paper facility will become operational on 19 February, the Bank said on Friday.

The Bank said its scheme to buy corporate bonds would launch "as soon as possible".

The commercial paper facility will initially buy sterling-denominated assets, though the Bank said it would "keep under review whether to propose any extension of the list of currencies in the future."

Assets must have a credit rating of at least A-3/ P-3/ F-3 from at least one of the big three rati