Bank of England surrenders windfall QE profits


Excess cash from the Bank of England's quantitative easing (QE) programme will be transferred to the Exchequer, the UK's Treasury announced today (November 9).

The Bank of England has so far accumulated £23.8 billion ($37.9 billion) of net income from the £375 billion ($597 billion) worth of assets it has purchased through its subsidiary, the Asset Purchase Facility (APF), since the QE programme began in 2009.

Most of this income is from coupon payments received by the APF on gilts – UK governme

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