About the UK Debt Management Office
The DMO was established on 1 April 1998, when responsibility for government wholesale sterling debt issuance was transferred from the Bank of England. The DMO assumed responsibility for central government cash management in April 2000. During the last 26 years, the DMO has secured a leading reputation of best practice in government debt and cash management, both compared to global financial markets and within its international peer group.
The DMO's remit is to carry out the government's debt management policy of minimising financing costs over the long term, taking account of risk, and to minimise the cost of offsetting the Government's net cash flows over time, while operating within a risk appetite approved by Ministers. Since 2002, the DMO has also taken operational responsibility for lending to local authorities through the Public Works Loan Board (PWLB) lending facility and for managing the investments of a number of major public funds, through its operations on behalf of the Commissioners for the Reduction of National Debt (CRND).
More details about the DMO are available at: https://www.dmo.gov.uk/.
