Bank of England liquidity auctions
On 23 June 2017, the Director of the Serious Fraud Office closed the SFO’s investigation into the conduct of liquidity auctions held by the Bank of England during the financial crisis in 2007 and 2008. The focus of the investigation was whether assistance had been provided to certain financial institutions to enable them to bid successfully for the available funding, to the possible detriment of other institutions. The Bank of England referred this matter to the SFO in November 2014, following its own internal investigation, and the investigation was opened the following month.
After a thorough investigation the SFO concluded that there is no evidence of criminality in relation to this matter.