UK Treasury to transfer £11bn to Bank of England to cover bond-buying losses

British MPs are set to debate the payment, which will cover losses for six months, next week

The Bank of England is to begin active sales of its quantitative easing programme next month.

The UK Treasury is set to transfer more than £11bn (€12.6bn) to the Bank of England to cover projected losses in its bond-buying programme, according to a person familiar with the situation.

The capital transfer was detailed in an update by the Treasury. The new injection is listed under “assistance to financial institutions — payment to the Bank of England”.  MPs are set to debate the payment, which will cover losses for six months, next week.