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Innovations in the Bank’s provision of liquidity insurance via Indexed Long-Term Repo (ILTR) operations

Author

Listed:
  • Frost, Tarkus

    (Bank of England)

  • Govier, Nick

    (Bank of England)

  • Horn, Tom

    (Bank of England)

Abstract

The Bank’s liquidity insurance facilities have been consistently improved since the onset of the financial crisis. The most innovative of these facilities is the Indexed Long-Term Repo (ILTR). In designing the ILTR, the Bank has drawn on lessons from auction theory. A key feature is that the provision of liquidity via the ILTR adjusts automatically to increases in demand caused by liquidity stresses in the financial system.

Suggested Citation

  • Frost, Tarkus & Govier, Nick & Horn, Tom, 2015. "Innovations in the Bank’s provision of liquidity insurance via Indexed Long-Term Repo (ILTR) operations," Bank of England Quarterly Bulletin, Bank of England, vol. 55(2), pages 181-188.
    • Handle: RePEc:boe:qbullt:0175
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    Cited by:

    1. Natalia Fabra & Juan-Pablo Montero, 2023. "Technology-Neutral Versus Technology-Specific Procurement," The Economic Journal, Royal Economic Society, vol. 133(650), pages 669-705.
    2. Paul Klemperer, 2018. "Product-Mix Auction," Economics Papers 2018-W07, Economics Group, Nuffield College, University of Oxford.
    3. Elizabeth Baldwin & Paul Klemperer, 2019. "Understanding Preferences: “Demand Types”, and the Existence of Equilibrium With Indivisibilities," Econometrica, Econometric Society, vol. 87(3), pages 867-932, May.
    4. Edoardo Gaffeo & Ronny Mazzocchi, 2019. "“The price is right”: using auction theory to enhance competition in the NPL market," Journal of Banking Regulation, Palgrave Macmillan, vol. 20(1), pages 104-112, March.
    5. Fabra, Natalia & Montero, Juan Pablo, 2020. "Technology-Neutral vs. Technology-Specific Procurement," CEPR Discussion Papers 15554, C.E.P.R. Discussion Papers.

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