The new Covid-19 Corporate Financing Facility (CCFF) means that the Bank of England will buy
short-term debt from larger companies. This will support companies which are fundamentally strong, but which have been affected by a short-term funding squeeze.
It will also support corporate finance markets and ease the supply of credit to all firms. The scheme will be funded by central bank reserves – in line with other Bank of England market operations. It will operate for at least 12 months, and for as long as steps are needed to relieve cash flow pressures on firms that make a material contribution to the UK economy.