Bank of England weekly balance sheet shows lower reserves and repo operations
The Bank of England's latest weekly balance sheet updates its assets and liabilities for 4 November 2026. The release shows reserve balances and short-term repo operations edging lower from the previous week, while notes in circulation increase slightly.
Highlights
- Bank of England reserve balances declined to £641,005 million as of 4 November 2026, compared with £645,452 million a week earlier.
- Short-term repo operations decreased to £139,958 million while indexed long-term repo operations rose to £85,207 million, reflecting shifts in central bank liquidity tools.
- Foreign currency reserve assets fell to £20,754 million from £23,610 million, with public securities issued dropping to £21,007 million.
Weekly balance sheet changes
As reported by Bank of England, the weekly report published on Thursday sets out the central bank's latest sterling and foreign currency positions for 4 November 2026, compared with 28 October 2026.Sterling liabilities show reserve balances at £641,005 million, down from £645,452 million a week earlier, while notes in circulation rise to £100,130 million from £99,928 million. On the asset side, short-term repo operations fall to £139,958 million from £143,083 million, and indexed long-term repo operations increase to £85,207 million from £84,094 million.
The Term Funding Scheme with additional incentives for SMEs declines to £35,763 million from £38,363 million. Sterling denominated bond holdings edge up to £12,276 million from £12,272 million, while the loan to the Asset Purchase Facility remains unchanged at £488,149 million.
Foreign currency positions and policy context
Foreign currency liabilities show public securities issued at £21,007 million, down from £22,870 million in the previous report. Foreign currency reserve assets also decline, to £20,754 million from £23,610 million.The weekly publication provides a routine snapshot of the Bank of England's balance sheet and funding operations rather than a policy decision. For markets and financial institutions, the figures offer a current view of liquidity conditions, central bank facilities and the scale of key balance sheet items in the UK financial system.
Our earlier article on Chancellor John Healey’s deficit-reduction stance ahead of the October 28 Budget explained that the government was signalling a tighter fiscal phase while still trying to support growth and investor confidence. It also noted UK GDP rose 0.1% in August, beating expectations for a contraction, even as political pressure mounted over tax and structural reform choices going into the Budget.
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