Market cheers end of Term Funding Scheme in 2018
UK ABS market participants cheered last week’s confirmation from the Bank of England that its Term Funding Scheme (TFS) will wrap up in February 2018, but opinion in the market is that the programme should not have gone on that long to begin with.
“The sooner TFS ends the better,” said an investor. “There was some chat earlier this summer that the end could even have been brought forward into August, but that’s not going to be the case, the sooner it ends the faster we can get the market going again.”
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