Correspondence

Update on the Asset Purchase Facility (APF)

The Chancellor of the Exchequer and Governor of the Bank of England announced updates relating to the Asset Purchase Facility (APF) through an exchange of letters.

• From: HM Treasury
• Published: 17 September 2026

Documents

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England 17 September 2026

PDF, 292 KB, 3 pages

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Letter from the Governor of the Bank of England to the Chancellor of the Exchequer 17 September 2026

PDF, 207 KB, 7 pages

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Details

The letters exchanged between the Chancellor and the Governor on the 17 September 2026 updated on the future implementation of Quantitative Tightening (QT) and agreed to a new strategy for backing banknotes.

Published 17 September 2026