Bank of England updates links to key information including Corporate Financing Facility

THE Bank of England has updated the links to information it has sent out, in particular, the Government has a new page as of this morning (March 23) and it has a new webpage for its corporate financing facility.

As ever, more information is becoming available regularly on the various schemes – please check the relevant websites.

Government:

The announcement on the Gov.uk website lists the various measures available and who is administering them.

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

There is a new page today for schemes that are going live:

https://www.gov.uk/government/news/coronavirus-business-support-to-launch-from-today

Two schemes involving the Bank of England:

 *   The measures on 11th March included a term funding scheme delivered via the banks (with additional incentives to support SMEs: https://www.bankofengland.co.uk/news/2020/march/boe-measures-to-respond-to-the-economic-shock-from-covid-19. Ask your bank about support.

 *   The Bank has taken steps to support banks capacity to lend.

 *   Another scheme for larger firms via the Bank of England https://www.bankofengland.co.uk/news/2020/march/hmt-and-boe-launch-a-covid-corporate-financing-facility.

 *   the Bank has published a dedicated webpage for corporates seeking to use the CCFF: https://www.bankofengland.co.uk/news/2020/march/the-covid-corporate-financing-facility

To access the CCFF firms do not have to have previously issued commercial paper or currently have a credit rating – please take a look at what steps can be taken in order to participate.