Update: Bank’s CP holdings fall further despite £458m purchases

Sales of commercial paper to the Bank of England’s Asset Purchase Facility totalled £458m in the week ending June 11 2009, the Bank said. It is the fourth highest weekly total in the fund’s 17-week history, and follows last week’s low £85m total. But the total held by the fund still declined from £2.13bn last week to £2.07bn. The fund passed the three month mark last month and it dropped the three month maturity requirement in late April to allow purchases of CP with any maturity between one week and three months. This is the third week in its history that the facility’s holdings have fallen. The highest volume held by the fund was £2.36bn on April 23.