§ Mr. TyrieTo ask the Chancellor of the Exchequer (1) if he will publish the Debt Management Office's profit and loss account for each year since its inception; [159999]
(2) how much of each short term money asset has been held by the Debt Management Office, representing its short term money under management for each quarter since its creation; [160001]
(3) how much short term money has been under management by the Debt Management Office for each month since the Debt Management Office's creation; [159998]
(4) how much of each short term money market asset has been bought by the Debt Management Office from the net increase in short term assets in 2000–01 under management; and if he will publish the results in tabular form; [160000]
(5) what returns have been made on short term assets managed by the Debt Management Office for each quarter since its creation; and what bench marks have been used. [160002]
733W
§ Miss Melanie JohnsonThe information requested falls within the responsibility of the Chief Executive of the Debt Management Office. I have asked him to reply.
Letter from Mike Williams to Mr. Andrew Tyrie, dated 3 May 2001:
The Economic Secretary to the Treasury has asked me to reply to Parliamentary Questions numbers 15,998, 15,999, 16,000, 16,001 and 16,002.The increase in the Government's net short term cash position, represented by the relevant net short-term assets held on the Debt Management Account (DMA) which is managed by the Debt Management Office (DMO), was £13.4 billion in the course of the 2000–01 financial year (including a £0.5 billion cash deposit at the
Schedule: Financial instruments in which the DMO may transact Basis of dealing Outright purchases and sales Gilt purchases1 Tenders and bilateral Gilt strip purchases1 Tenders and bilateral HMT bills Tenders and bilateral Selected eligible bank bills1 Bilateral Certificates of Deposit (CDs) Bilateral Selected commercial paper (CP) selected bank Bills and other short-term debt issued by high Quality issuers, including supranationals and Foreign Governments2 Bilateral Purchases from the market for future resale ('reverse repo') and Sale to the market for future repurchase ('repo') Instruments Gilts (deliveries by value 'DBV' and General Collateral 'GC' including strips) Tenders and bilateral HMT bills Tenders and bilateral Non-Sterling HMT paper Bilateral Selected eligible bank bills Bilateral £ and other currency paper issued by high quality supranational and foreign government issuers Bilateral Other Unsecured cash borrowing and lending Bilateral 1 Less than six months to maturity 2 Less than 12 months Note:
The DMO may also use short-term currency swaps, Forward Rate Agreements (FRAs) and interest rate futures to manage foreign currency and interest rate exposures. All foreign currency exposures will be hedged hack into sterling.