Bank of England releases consolidated balance sheet for September 2024

The Bank of England's consolidated balance sheet for 30 September 2024 shows total liabilities of £903.34 billion.

Sterling liabilities form the vast majority of this figure, primarily driven by reserves balances held by commercial banks, which stood at £730.99 billion.

This represents the largest single liability item and a key component of the central bank's monetary policy operations.

Notes in circulation, reflecting physical currency demand, accounted for £89.14 billion.

Other sterling liabilities contributed £56.55 billion.

The Bank's own capital and reserves were £4.25 billion.

Foreign currency liabilities were comparatively smaller, totaling £22.41 billion, comprising £12.69 billion in foreign currency public securities issued and £9.72 billion in other foreign currency obligations.

This liability structure highlights the central bank's role in managing the domestic financial system.

On the asset side, the Bank of England's total assets also amounted to £903.34 billion.

Sterling assets form the largest portion, primarily due to the loan to the Asset Purchase Facility (APF), which stood at £695.02 billion.

This substantial figure reflects the cumulative impact of the Bank's quantitative easing programmes.

Loans under the Term Funding Scheme with additional incentives for SMEs (TFSME) represented another significant sterling asset at £121.71 billion, supporting lending to small and medium-sized enterprises.

Sterling denominated bond holdings were £14.87 billion, and one-week open market operations accounted for £37.06 billion.

Foreign currency assets totaled £26.29 billion.

The asset composition demonstrates the BoE's active role in market operations to achieve its policy objectives.