- UK Debt Management Office
The UK Debt Management Office (or DMO), was established on
1 April 1998. The DMO is responsible for carrying out the Government's debt management policy of minimising financing costs over the long term, taking account of risk, and managing the aggregate cash needs of the Exchequer in the most cost-effective way, in both cases consistently with the objectives of monetary and any wider policy considerations.
In institutional terms, the DMO is legally and constitutionally part of
HM Treasury, but as an executive agency, it operates at arm's length from Ministers. The Chancellor of the Exchequer determines the policy and financial framework within which the DMO operates, but delegates to the Chief Executive operational decisions on debt and cash management, and day-to-day management of the office.
Prior to the establishment of the DMO, management of the Government's debt was undertaken by the
Bank of Englandon behalf of the Treasury. The change was implemented following the incoming Government's decision to give the Bank of England independence in setting monetary policy. [http://www.dmo.gov.uk/publication/fwork0701.pdf Executive Agency Framework Document] ]
* [http://blog-pfm.imf.org/pfmblog/2007/11/7th-imf-debt-ma.html 7th IMF Debt Management Forum, Brian Olden, IMF/FAD]
Wikimedia Foundation. 2010.
Look at other dictionaries:
Debt Management Office — (DMO) United Kingdom An agency of HM Treasury that carries out the UK Government s debt management policy. The DMO is an executive agency of HM Treasury. The DMO s responsibilities include debt and cash management for the UK Government, lending… … Law dictionary
Debt Management Office — ( DMO) An Executive Agency of the Treasury, which has responsibility for issuing gilts to fund the Government s borrowing activities. London Stock Exchange Glossary … Financial and business terms
Office of the Comptroller of the Currency — Agency … Wikipedia
Office of Gas and Electricity Markets — (Welsh: Swyddfa’r Marchnadoedd Nwy a Thrydan) Non ministerial government department overview Preceding agencies Office of Electricity Regulation Office of Gas Supply Jurisdiction United Kingdom … Wikipedia
Office of Thrift Supervision — Agency overview Formed August 9, 1989 Preceding agency Federal Home Loan Bank Board Dissolved … Wikipedia
Office for Budget Responsibility — Formation May 2010 Purpose/focus Economic forecasting to provide guidance for the budget Region served United Kingdom Chairman Robert Chote … Wikipedia
Office of Fiscal Service — The Office of Fiscal Service (OFS) is an agency of the United States federal government in the United States Department of the Treasury. The office is led by the Fiscal Assistant Secretary of the Treasury, currently Kenneth E. Carfine. Assistant… … Wikipedia
Office of Financial Markets (U.S.) — The Office of Financial Markets is an agency of the United States federal government in the United States Department of the Treasury. OFM serves as the Department s advisor on broad matters of domestic finance, financial markets, Federal, State… … Wikipedia
Office of Fair Trading — This article is about Office of Fair Trading of the United Kingdom. For other uses, see OFT (disambiguation). Office of Fair Trading (Welsh: Swyddfa Masnachu Teg) Non ministerial government department overview Formed … Wikipedia
Office of Financial Stability — The Office of Financial Stability is a new office within the Office of Domestic Finance of the United States Treasury created by the Emergency Economic Stabilization Act of 2008 to operate the Troubled Assets Relief Program. OFS is headed by… … Wikipedia