Date : Thursday 06 May 2021 4:00PM

16:00 06/05/21 APF Gilt Operation Schedule

Date of operation 10/05/21
Total size of operation Stg 1,147mn
Stocks offered for purchase
UKT_0.625_070625
UKT_0.125_300126
UKT_1.25_220727
UKT_0.125_310128
Settlement date 11/05/21

Date of operation 11/05/21
Total size of operation Stg 1,147mn
Stocks offered for purchase
UKT_4.5_071242

UKT_3.25_220144
UKT_3.5_220145
UKT_4.25_071246
UKT_1.5_220747
UKT_1.75_220149
UKT_4.25_071249
UKT_0.625_221050
UKT_1.25_310751
UKT_3.75_220752
UKT_1.625_221054
UKT_4.25_071255
UKT_1.75_220757
UKT_4_220160
UKT_2.5_220765
UKT_3.5_220768

UKT_1.625_221071
Settlement date 12/05/21

Date of operation 12/05/21
Total size of operation Stg 1,147mn
Stocks offered for purchase
UKT_1.625_221028
UKT_0.875_221029
UKT_0.375_221030
UKT_0.25_310731
UKT_4.5_070934
UKT_4.25_070336
UKT_1.75_070937
UKT_4.75_071238
UKT_4.25_070939

UKT_4.25_071240
Settlement date 13/05/21


UKT 2.75% 2024, UKT 5% 2025, UKT 2% 2025, UKT 1.5% 2026, UKT 4.25% 2027, UKT 6%
2028, UKT 4.75% 2030 and UKT 4.25% 2032 are excluded from Asset Purchase
Facility gilt purchases until further notice, since the Bank's holdings are
above 70% of the "free float"; i.e. the total amount in issue minus government
holdings.

UKT 0.375% 2026 will be excluded from the 10/05/21 operation because it will be
auctioned by the DMO within one week of the purchase operation.

UKT 1.25% 2041, UKT 0.875% 2046 and UKT 0.5% 2061 will be excluded from the
11/05/21 operation because they will be auctioned by the DMO within one week of

the purchase operation.

UKT 0.625% 2035 will be excluded from the 12/05/21 operation because it will be
auctioned by the DMO within one week of the purchase operation.

The Bank will continue to keep the identity of gilts eligible for purchase by
the APF under review.

For further operational detail, see the Bank's Market Notices of 6 May 2021 and
13 August 2020.

15:00 06/05/2021 Asset Purchase and Covid Corporate Facility Stocks
The table below shows the outstanding stock of purchases, in terms of initial
proceeds paid, under both the Asset Purchase Facility and the Covid Corporate
Financing Facility. Figures are for settled transactions as at the close of
business on the date indicated.

Stock                               (Stg mn)        Date
Gilt purchases                      794,862        05/05/2021
Corporate Bond Purchase Scheme       19,799        05/05/2021
Covid Corporate Financing Facility    6,789        05/05/2021

14:49 06/05/21 Asset Purchase Facility gilt purchase operation results

Competitive offers
Total offers received   Stg 4,226.7mn
Total offers accepted   Stg 1,480.0mn
The cover ratio in the competitive auction was therefore 2.86
In the operation overall, total offers accepted, in terms of total proceeds,
were Stg 1,480.0mn

Competitive auction results

Summary

Bond                      Offers Received Offers Accepted     WAAP Highest AAP
UKT_0.625_070625              Stg 994.8mn     Stg 451.4mn  101.641     101.650

UKT_0.125_300126            Stg 2,052.2mn     Stg 807.2mn   99.014      99.030
UKT_1.25_220727               Stg 282.5mn     Stg 157.5mn  104.624     104.629
UKT_0.125_310128              Stg 897.2mn      Stg 63.8mn   96.994      97.002

UKT_0.625_070625
Total offers received                Stg 994.8mn
Total offers accepted                Stg 451.4mn
Weighted average yield               0.221%
Weighted average price               101.641
Highest accepted price               101.650
Lowest accepted price                101.639
Tail                                 0.01
Offers at the highest accepted price were allotted 100.00% of the value of the
offer.

UKT_0.125_300126
Total offers received                Stg 2,052.2mn
Total offers accepted                Stg 807.2mn
Weighted average yield               0.335%
Weighted average price               99.014
Highest accepted price               99.030
Lowest accepted price                98.990
Tail                                 0.02
Offers at the highest accepted price were allotted 100.00% of the value of the
offer.

UKT_1.25_220727
Total offers received                Stg 282.5mn
Total offers accepted                Stg 157.5mn
Weighted average yield               0.493%

Weighted average price               104.624
Highest accepted price               104.629
Lowest accepted price                104.615
Tail                                 0.01
Offers at the highest accepted price were allotted 100.00% of the value of the
offer.

UKT_0.125_310128
Total offers received                Stg 897.2mn
Total offers accepted                Stg 63.8mn
Weighted average yield               0.581%
Weighted average price               96.994
Highest accepted price               97.002
Lowest accepted price                96.989
Tail                                 0.01

Offers at the highest accepted price were allotted 8.00% of the value of the
offer.

No non-competitive offers were received.

12:30 06/05/21 APF Gilt Operation

The total of non-competitive offers received was Stg 0mn.

The size of the competitive auction, in terms of the total proceeds of gilts to
be purchased, will be Stg 1,480mn.

Offers in the competitive auction may be submitted in Btender between
14:15-14:45.
12:01 APF: Gilt Purchases - Market Notice 6 May 2021

At its meeting ending on 5 May 2021, the MPC voted for the Bank of England to
continue with its existing programme of UK government bond purchases, financed
by the issuance of central bank reserves, maintaining the target for the stock
of these purchases at Stg 875 billion.[1]

The existing programme of Stg 150 billion of UK government bond purchases had
started in January and its completion was expected by around the end of 2021.
As envisaged since the announcement of the programme in November 2020 and
consistent with developments in financial markets since then, the pace of these
continuing purchases could now be slowed somewhat.  This operational decision
should not be interpreted as a change in the stance of monetary policy.  As
measured by the target stock of purchased assets, that stance remained
unchanged.                                                              [cont.]
Asset Purchase Facility:  Gilt Purchases

1.      This market notice sets out details of the Bank's planned APF gilt
purchases taking place from the week commencing 10 May 2021 up to and including
the week commencing 2 August 2021 - which is the week of the MPC's August
meeting. It covers the ongoing Stg 150bn of gilt purchases announced in

November 2020[2], and the reinvestment of proceeds of a gilt maturity occurring
on 7 June 2021.

2.      The Bank intends to purchase evenly across the three gilt maturity
sectors.  For operations scheduled between 10 May 2021 and 4 August 2021 the
planned size of auctions will be Stg 1.147bn for each maturity sector.  This
auction size includes the reinvestment of the Stg 16.4bn cash flows associated
with the maturity on 7 June 2021 of a gilt owned by the APF.
                                                                        [cont.]
3.      The Bank plans to conduct three 30 minute auctions a week: gilts with a
residual maturity of 3-7 years will be purchased on Mondays at 14:15; those
with a residual maturity of over 20 years will be purchased on Tuesdays at
14:15; and those with a residual maturity of 7-20 years will be purchased on
Wednesdays at 14:15. All times are London time.

4.      The Bank will not hold a gilt purchase operation on Monday 31 May 2021
due to the UK bank holiday. This operation - for short maturity bonds - will
instead be held on Thursday 3 June 2021.

5.      As usual, the size of auctions will be kept under review throughout the
purchase programme in light of market conditions.

6.      The Bank will confirm details of the following week's operations each
Thursday at 16:00 (London time). The range of gilts eligible for purchase will
remain unchanged from previous operations. The Bank does not currently intend
to purchase gilts where the Bank holds more than 70% of the "free float", i.e.
the total amount in issue minus government holdings.  The Bank will, however,
continue to keep the gilts eligible for purchase by the APF under review.

7.      Other than as amended by this Market Notice, previous Market Notices

relating to the Bank's gilt purchases under the APF will apply.[3]

Footnotes

[1] This is in addition to a target stock of Stg 20bn of corporate bonds,
making a total target stock of asset purchases of Stg 895bn.

[2] https://www.bankofengland.co.uk/-/media/boe/files/monetary-policy-summary-a
nd-minutes/2020/november-2020.pdf                                       [cont.]
[3] The current consolidated Market Notice can be found at
https://www.bankofengland.co.uk/markets/market-notices/2020/consolidated-market
-notice-for-asset-purchase-facility-gilt-purchases-august-2020

ENDS

09:00 06/05/21 APF Gilt Operation.

The total of non-competitive offers for today's auction will be announced at
12:30.

Date of operation                          06/05/21

Time for submission of competitive offers  14:15 - 14:45
Auction type                               Variable price operation
Allotment method                           Discriminatory price basis
Minimum offer amount                       Stg 5mn
Multiples of                               Stg 1mn
Total size of operation                    Stg 1,480mn
Eligible stocks   Settlement date
UKT_0.625_070625  07/05/21     [cont.]
UKT_0.125_300126  07/05/21
UKT_1.25_220727   07/05/21
UKT_0.125_310128  07/05/21

Non-competitive offers must be received by the Bank no later than 11am.
The minimum offer amount and increment for non-competitive offers are currently
each set at Stg 1 million.