Written question asked by Lord Myners (Labour), in the House of Lords. It was answered by Lord Sassoon (Conservative) on Monday, 13 December 2010.

Bank of England

Question: To ask Her Majesty’s Government how the Bank of England will assess the economic impact of its Secure Commercial Paper Facilities.

Answer: The Bank of England will assess the economic impact of its secured commercial paper facility by considering a number of factors, including the amount of such paper issued to private investors. Although the Bank believes that this programme will encourage the flow of credit to a broader range of companies than the other corporate asset purchase facility schemes, it is likely to play only a small part in tackling broader financing issues for smaller companies, which the Government are taking forward.

Secondary information