July 26, 2016 / 10:01 AM / 3 years ago

UK banks show little demand for Bank of England liquidity funds

LONDON, July 26 (Reuters) - British financial institutions showed very little appetite on Tuesday for liquidity from the Bank of England, which allotted the smallest amount in a repo operation since they began in their current form in February 2014.

Lenders bid for and received just 75 million pounds ($98 million) of six-month central bank funds at the BoE’s Bank Rate, currently 0.5 percent. This was down from a total 250 million pounds last week.

After Britain voted to leave the European Union last month, the central bank said it would hold the repos on a weekly rather than a monthly basis until September. ($1 = 0.7616 pounds) (Reporting by Andy Bruce)

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