Monthly operational lending facility rate of the Bank of England 2014-2023
The operational lending facility of the Bank of England increased notably in 2022 and 2023, after years of marginal changes in the rate. As of November 2023, the operational lending facility stood at 5.5 percent, the highest in the observed period. The operational lending facility consists of an overnight lending transaction collateralized against high-quality, highly liquid assets. The Bank of England applies a 25 basis point premium above the bank rate for this facility.