SX7E (20th Mar) 170p, traded at 1 in 20k (unconfirmed seller).
BOE: ILTR take up should alleviate some funding mkt pressures but it settles T+2
Nov-11 10:47
The only time we have seen higher net ILTR takeup than in today's operation was the first week of the Covid pandemic and two weeks ago when there was the huge TFSME repayment.
This operation only settles T+2 so it might not fully alleviate the pressures seen in repo markets that are still evident in RONIA-Bank Rate spreads at present. But the high takeup does indicate that we may not need quite as large of an increase in STR holdings on Thursday to bring UK funding markets back into more of an equilibrium.