Bloomberg have a recap up, related to:
Bank of England says launching temporary expanded collateral repo facility
More on the BoE operation to calm gilt, GBP market - ready to increase daily purchases
Link is here (may be gated). In brief:
- The BOE said Monday it will launch a Temporary Expanded Collateral Repo Facility, or TECRF, that will run until Nov. 10 to help banks ease pressure on the so-called liability-driven investment strategies that many pensions use.
- Banks could therefore accept more types of assets as collateral from the LDI funds and turn to the BOE to convert those assets into cash.
Cable update:
