Latest news with #VickySaporta
Reuters
a day ago
- Business
- Reuters
Bank of England allocates record 68.929 billion pounds at short-term repo
LONDON, June 12 (Reuters) - The Bank of England on Thursday allotted a record 68.929 billion pounds ($93.52 billion) in seven-day funds in its weekly short-term repo operation, higher than a previous record of 68.106 billion pounds last week. BoE official Vicky Saporta said on Wednesday that banks operating in Britain should make more use of the BoE's repo facilities, as central bank bond sales and other loan repayments drain liquidity. The central bank announced on Wednesday an increase in the amount of cash reserves available in each weekly long-term repo operation, which will rise to 35 billion pounds from 25 billion pounds. ($1 = 0.7370 pounds)
Bloomberg
2 days ago
- Business
- Bloomberg
Bank of England Urges Lenders to Step Up Use of Repo Facilities
By and Tom Rees Save The Bank of England has urged lenders to step up use of its routine liquidity facilities as a crunch point approaches for the bank's balance sheet. In a speech in Helsinki, Executive Director of Markets Vicky Saporta said firms should be 'looking to use these facilities for routine liquidity management and not just as backstops' and warned them to be prepared for more market turbulence as use of the facilities ramps up in the months ahead.
Reuters
2 days ago
- Business
- Reuters
BoE's Saporta says banks should prepare to change approach to liquidity
HELSINKI, June 11 (Reuters) - Banks operating in Britain should prepare to change their approach to liquidity management and make greater use of BoE facilities, as ongoing BoE bond sales and other loan repayments drain liquidity, senior Bank of England official Vicky Saporta said on Wednesday. Saporta, the BoE's executive director for markets, said the central bank estimated that the financial system could reach its 'preferred minimum range of reserves' as soon as the second quarter of next year. "Firms must now fully consider the changing liquidity environment and their plans to source reserves within that," Saporta said in a speech at the Bank of Finland. "That means borrowing in larger volumes routinely from the Bank, considering their market access, testing operations regularly and thinking actively about levels of pre-positioned collateral," she added.
