Central Banks
UK Treasury to Transfer £11 Billion to BOE to Cover QE Losses
- Payment is first evidence of taxpayer hit from bond-buying
- Government has already made a £828 million advance to APF
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The UK Treasury is set to transfer more than £11 billion ($12.4 billion) to the Bank of England this fiscal year to cover projected losses in its bond-buying program, according to a person familiar with the situation.