LONDON (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
Bank of England Sets New Record with £68.929 Billion in Repo Funds
LONDON (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)
(Reporting by Suban Abdulla; editing by David Milliken)
