This data set provides information about the operations of the Bank of England in the market for government securities between 1928 and 1972. It supports the narrative in my book '
The Bank of England and the government debt: operations in the gilt-edged market, 1928 - 1972' (Cambridge University Press, 2019).The Bank of England's portfolio of government securities increased massively in 1928, when the Issue Department of the Bank absorbed the currency notes that has been issued by the Treasury since 1914, and the accompanying assets. The Issue Department became an increasingly influential participant in the market, underwriting new issues by the government. In the 1950s and 1960s it acted as market-maker of last resort, and this activity led to conflicts with its monetary policy objectives. It also provided covert financial support to the Stock Exchange jobber, who were the principal market-makers.The conflict between market making and monetary policy was largely resolved in 1971, when the Bank of England curtailed its market-making activities.
