UK Debt Management Office: Establishment of the UK Debt Management Office

NDO 23

1987-1998

This series contains records relating to the planning and establishment of the UK Debt Management Office

The records were numbered without reference to subject matter. Blocks of numbers were usually allocated to related subjects

See also the records of the Public Works Loan Board (PWLB). See also the records of the National Debt Office (NDO)

Public Record(s)

English

• National Debt Office, 1786-1786
• UK Debt Management Office, 1998-1998

10 file(s)

Open unless otherwise stated

From 2021 UK Debt Management Office

Topics

National debt

Series is accruing

The UK Debt Management Office (DMO) was established on 1 April 1998 as an Executive Agency of the Treasury. The decision in 1997 to transfer monetary policy to the Bank of England while the Treasury retained control of fiscal policy led to its creation.

DMO has two main functions: to act as the Government's debt manager, and its cash manager. Its brief is to carry out the Government's debt management policy of minimising financing costs over the long term, taking account of risk, and to manage the aggregate cash needs of the Exchequer in the most cost-effective way.

In April 2000 responsibilities for Exchequer cash management was transferred to the DMO. The DMO assumed responsibility for issuing Treasury bills from this date. In July 2002 the operations of the Public Works Loan Board (PWLB) and the Commissioners for the Reduction of the National Debt (CRND) were integrated with the DMO