HM Treasury and the Bank of England (the Bank) have agreed to extend temporarily the use of the government’s long-established Ways and Means (W&M) facility.
This measure is to provide a short-term source of additional liquidity to the government, if needed, during the pandemic.
The W&M facility is the government’s pre-existing overdraft at the Bank. Any drawings are expected to be repaid as soon as possible before the end of the year.
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