On 17 September 2026, HM Treasury published an update on the Asset Purchase Facility. It states: “The Chancellor of the Exchequer and Governor of the Bank of England announced updates relating to the Asset Purchase Facility (APF) through an exchange of letters.” For a crisis-era facility, two fresh letters on the same day are the real surprise.
What the source says
The APF is supposed to feel like legacy policy plumbing from the QE years. That is why this publication matters. The title is dry, but the timing is not.
Fresh correspondence from both the Chancellor and the Governor means the facility still needs current policy attention in September
- Markets will read that as a sign that indemnity, loss-sharing, unwind terms, or governance still warrant active handling. For finance leaders, that keeps the APF in the category of live policy risk, not archived history.
What this means for UK creditors
If you supply customers with refinancing needs, this is worth acting on now. Prioritise larger balances, review payment terms on stretched accounts, and shorten the gap between monitoring checks. The APF will not decide whether one debtor pays next week, but it can influence the wider credit climate those debtors operate in.
This is also a reminder about sequence. Policy correspondence can surface before the trade creditor sees missed promises, aged debt, or a change in banking support. That is why credit teams should not wait for a formal distress event to revisit exposure. Use this sort of signal to decide which accounts need faster review, tighter limits, or earlier escalation.
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