Friday June 26, 10:22 AM
BoE bought 130 mln stg commercial paper in past week
LONDON, June 26 (Reuters) - The Bank of England said on Friday it bought 130 million pounds ($211.3 million) of commercial paper in the week to June 25, taking the net total since the scheme's launch to 1.950 billion pounds.
The BoE confirmed it has so far bought a total of 96.368 billion pounds of gilts under the scheme and a net 776 million pounds of corporate bonds.
The BoE extended its quantitative easing programme by 50 billion pounds in May, lifting the total from 75 billion to 125 billion pounds.
The commercial paper facility is intended to make it easier for companies to raise working capital. It operates in parallel with other elements of the central bank's quantitative easing scheme to support the economy by buying private assets with newly-created money.
* For the full BoE statement on commercial paper, see
http://www.bankofengland.co.uk/markets/marketnotice090424.pdf ($1=.6153 Pound) Keywords: BRITAIN BANK/PURCHASES
(UK Economics Desk; Tel. +44 207 542 2774)
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