Update: Bank’s CP holdings rise to £2.1bn as it buys £263m

Sales of commercial paper to the Bank of England’s Asset Purchase Facility totalled £458m in the week ending June 18, the Bank said. The total held by the fund increased from £2.066bn last week to £2.1bn. The facility’s total had last week fallen from £2.13bn a week earlier, despite it buying £458m. Out standings had also fallen the previous week, from £2.293bn. This indicates that at least some of this week’s issues were new and they were not all rolls of maturing paper. The fund passed the three month mark last month and the three month maturity requirement was dropped in late April to allow purchases of CP with maturities between one week and three months.