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Bank of England allots most since June in six-month repo

FILE PHOTO: The spread of the coronavirus disease (COVID-19) in London
FILE PHOTO: The spread of the coronavirus disease (COVID-19) in London

LONDON (Reuters) - The Bank of England said it allotted 930 million pounds to financial institutions in a weekly six-month repo operation on Tuesday, the most since June 23.

Demand for the funding peaked on March 24 at 7.2 billion pounds, when liquidity shortages caused by financial market turmoil related to the coronavirus were at their greatest.

(Writing by William Schomberg, editing by David Milliken)