COVID-19 CORPORATE FINANCING FACILITY INFORMATION

24 Mar 2020

Published in: Black Country Chamber of Commerce News

The new Covid-19 Corporate Financing Facility (CCFF) means that the Bank of England will buy short-term debt from larger companies.

What is it?

The new Covid-19 Corporate Financing Facility (CCFF) means that the Bank of England will buy short-term debt from larger companies.

This will support companies which are fundamentally strong, but have been affected by a short-term funding squeeze.

It will also support corporate finance markets overall and ease the supply of credit to all firms.

The scheme will be funded by central bank reserves – in line with other Bank of England market operations.?

It will operate for at least 12 months, and for as long as steps are needed to relieve cash flow pressures on firms that make a material contribution to the UK economy.

Who is eligible? 

Companies – and their finance subsidiaries – that make a material contribution to the UK economy are able to participate in the facility.

More information on eligibility can be found on the Bank of England Website.

How can a business access it?

In order to access the CCFF, businesses will need to contact their bank.

It is important to note that not all banks issue commercial paper.

If a bank does not issue commercial paper, UK Finance will provide a list of banks that are able to assist.

More information can be found on the Bank of England website.

When can a business access the facility?

This scheme is now available for applications.


The Chamber will continue to monitor these developments and provide indepth analysis as we learn more. Businesses can contact the Chamber's support line on 01902 912 322.

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