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Overseas Holdings breakdown by Country

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Dear UK Debt Management Office,

I understand from previous FOI requests in 2014 that country-by-country breakdowns were not available for the Overseas Holdings of UK Debt.

Is this still the case? If it is, why?

I strongly think this is something that should be made available to the public so that we can understand which countries are increasingly holding our National Debt, now 28% of the total £1.9 trillion. This information is surely attainable if not currently readily available.

It is provided in the US so why not here? Reference the link below:

https://www.statista.com/statistics/2464...

Yours faithfully,

John Perks

RecordsManagementService, UK Debt Management Office

Dear Mr Perks,

Thank you for your FOIA request of 8 February 2018.

Could you please clarify the information you wish to receive. The UK DMO can provide a country by country break down of Gilt holders (with the caveat that the underlying beneficiary may not always reside in the country of registration) should you wish to receive that.

Yours sincerely,
Records Management Service | UK Debt Management Office
Eastcheap Court · 11 Philpot Lane · London · EC3M 8UD | +44 20 7862 6552

Our email address has changed to [UK Debt Management Office request email]<mailto:[email address]> Emails sent to our former address ([email address]<mailto:[email address]> ) will continue to be received for a limited time, but you are advised to change your contact details now.

________________________________
From: John Perks <[FOI #551421 email]>
Sent: 08 February 2019 18:03
To: RecordsManagementService
Subject: Freedom of Information request - Overseas Holdings breakdown by Country

Dear UK Debt Management Office,

I understand from previous FOI requests in 2014 that country-by-country breakdowns were not available for the Overseas Holdings of UK Debt.

Is this still the case? If it is, why?

I strongly think this is something that should be made available to the public so that we can understand which countries are increasingly holding our National Debt, now 28% of the total £1.9 trillion. This information is surely attainable if not currently readily available.

It is provided in the US so why not here? Reference the link below:

https://www.statista.com/statistics/2464...<https://www.statista.com/statistics/2464...>

Yours faithfully,

John Perks

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Dear RecordsManagementService,

Yes that breakdown sounds exactly like what I was hoping for. Specifically, it would be a country by country breakdown of Gilt holders that fall under the 'overseas holdings' category.

Thank you in advance.

Yours sincerely,

John Perks

RecordsManagementService, UK Debt Management Office

Dear Mr Perks,

Thank you for your revised request under the FOIA 2000 received on 11 February 2019. We will respond promptly and in any event not later than the 20th working day following the date of receipt, which would be 11 March 2019.

For clarity, the question we will respond to is: a country-by-country breakdown of overseas gilt holders using the latest available figures. Please let us know if you feel we have misinterpreted your request.

Kind regards,
Records Management Service | UK Debt Management Office
Eastcheap Court · 11 Philpot Lane · London · EC3M 8UD | +44 20 7862 6552

Our email address has changed to [UK Debt Management Office request email]<mailto:[email address]> Emails sent to our former address ([email address]<mailto:[email address]> ) will continue to be received for a limited time, but you are advised to change your contact details now.

________________________________
From: John Perks <[FOI #551421 email]>
Sent: 11 February 2019 22:56
To: RecordsManagementService
Subject: Re: Freedom of Information request - Overseas Holdings breakdown by Country

Dear RecordsManagementService,

Yes that breakdown sounds exactly like what I was hoping for. Specifically, it would be a country by country breakdown of Gilt holders that fall under the 'overseas holdings' category.

Thank you in advance.

Yours sincerely,

John Perks

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RecordsManagementService, UK Debt Management Office

1 Attachment

Dear Mr Perks,

Please find attached the UK Debt Management Office's response to your Freedom of Information request.

Yours sincerely,

Records Management Service
Records Management Service | UK Debt Management Office
Eastcheap Court · 11 Philpot Lane · London · EC3M 8UD | +44 20 7862 6552

Our email address has changed to [UK Debt Management Office request email]<mailto:[email address]> Emails sent to our former address ([email address]<mailto:[email address]> ) will continue to be received for a limited time, but you are advised to change your contact details now.

show quoted sections

Dear RecordsManagementService,

Many thanks for this information, it is exactly what I was looking for.

Is it possible to get the data table in an Excel spreadsheet format please?

Yours sincerely,

John Perks

RecordsManagementService, UK Debt Management Office

1 Attachment

Dear Mr Perks,

Please find attached an Excel spreadsheet of the data we sent in our response to your FOI.

Kind regards,
Records Management Service | UK Debt Management Office
Eastcheap Court · 11 Philpot Lane · London · EC3M 8UD | +44 20 7862 6552

Our email address has changed to [UK Debt Management Office request email]<mailto:[email address]> Emails sent to our former address ([email address]<mailto:[email address]> ) will continue to be received for a limited time, but you are advised to change your contact details now.

________________________________
From: John Perks <[FOI #551421 email]>
Sent: 08 March 2019 15:25
To: RecordsManagementService
Subject: Re: Response to your FOI request

Dear RecordsManagementService,

Many thanks for this information, it is exactly what I was looking for.

Is it possible to get the data table in an Excel spreadsheet format please?

Yours sincerely,

John Perks

show quoted sections

Dear RecordsManagementService,

Please can you advise how to align these numbers with those from the 'Distribution of Gilt Holdings' data table made available by DMO here:

https://www.dmo.gov.uk/data/gilt-market/

Where the latest data from 'Q3 2018' shows -

1. Total 'Central Government Liabilities' was £1.90 trillion
2. 'Overseas Holdings (Rest of World)' was £525 billion

In the data provided from this FOI request, for 1st Feb 2019 -

A. 'Total Nominal Amount Held' = £1.50 trillion
B. 'Country of Domicile of registered legal holder' - 'United Kingdom' = £1.29 trillion
C. 'Country of Domicile of registered legal holder' [rest of the world i.e. all others] = £216 billion

Are 1 and A directly comparable? And are 2 and C directly comparable?
i.e. would the first dataset match that of the second if it had been taken at the same date?

I am assuming so but wanted to double check as both figures have dropped quite considerably - not a bad thing but would be a notable change in the overall trend.

Yours sincerely,

John Perks

RecordsManagementService, UK Debt Management Office

Dear Mr Perks,

Thank you for your email of 09 March 2018. We are treating your request as a business as usual enquiry.

This email is to confirm receipt of your request and to let you know that it is receiving attention and we will respond in due course.

Yours sincerely,

Records Management Service
Records Management Service | UK Debt Management Office
Eastcheap Court · 11 Philpot Lane · London · EC3M 8UD | +44 20 7862 6552

Our email address has changed to [UK Debt Management Office request email]<mailto:[email address]> Emails sent to our former address ([email address]<mailto:[email address]> ) will continue to be received for a limited time, but you are advised to change your contact details now.

show quoted sections

RecordsManagementService, UK Debt Management Office

Dear Mr Perks,

Thank you for your email with respect to gilt holdings data.

The 'Distribution of Gilt Holdings' report data, published on the DMO website, is sourced from the Office for National Statistics (ONS). In particular, this information forms part of the ONS' UK Economics Accounts Dataset and this is the link <https://www.ons.gov.uk/economy/nationala...> to their website.

The data published by the ONS represent market value figures, whereas the data made available by the DMO (via Computershare as the HMT appointed gilts registrar) are nominal value figures. This difference in reporting is mainly responsible for the volume variances between the figures shown in 1 and A.

Additionally, in relation to the comparison between 2 and C, as outlined in the DMO's response to your original Freedom of Information request dated 7 March 2019, the DMO only holds information (through Computershare as HMT's-appointed gilt registrar) on registered legal holders of gilts and not on underlying beneficial holders of gilts.

As a result, the figures shown in 1 and A, as well as 2 and C, are not directly comparable.

Yours sincerely,

Records Management Service
Records Management Service | UK Debt Management Office
Eastcheap Court · 11 Philpot Lane · London · EC3M 8UD | +44 20 7862 6552

Our email address has changed to [UK Debt Management Office request email]<mailto:[email address]> Emails sent to our former address ([email address]<mailto:[email address]> ) will continue to be received for a limited time, but you are advised to change your contact details now.

show quoted sections

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