LONDON, Nov 23 Reuters The Bank of England set out operational details on Wednesday of its plans to start selling some of the 19.3 billion pounds 23.2 billion of longdated and indexlinked gilts which it bought from Sept. 28 to Oct. 14 to stabilise financial markets.

The BoE is keen to sell in a timely way the bonds it bought to halt a fire sale of assets by British pension funds, which was triggered by a slump in bond prices after thenfinance minister Kwasi Kwarteng39;s Sept. 23 minibudget.

The central bank had previously said sales would begin in the week starting Nov. 29, and that the volume sold would depend on demand from investors in contrast to its fixed auction schedule to sell gilts bought for quantitative easing purposes.

Wednesday39;s announcement gave more details of the BoE39;s plans. The BoE intends to offer gilts for sale on Tuesdays, Wednesdays and Fridays, giving minimum prices that it will accept before each sale.

In addition, the BoE said it would not sell gilts at prices lower than the market prices which prevailed during the half hour period from 3 pm to 3.30 pm 15001530 GMT when it would accept bids.

There will be instances when the Bank could sell a larger volume of gilts if demand is particularly strong, but also times when the Bank will sell few or no gilts if there is insufficient demand, the BoE said.

The BoE added that it would generally not sell a gilt which had fallen sharply in price on the day of the sale, or if it was scheduled for…