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Government Securities

Volume 497: debated on Tuesday 13 October 2009

To ask the Chancellor of the Exchequer what estimate he has made of the monetary value of gilts and bonds sold to organisations in (a) China and (b) India in each of the last three years. (291777)

The Debt Management Office (DMO) predominantly sells gilts competitively via auctions in the primary market to the primary market dealers, that is, the Gilt-Edged Market Makers (GEMMs), only. GEMMs are financial institutions recognised as such by the DMO. The DMO does not sell gilts direct to other organisations. GEMMs place bids at auctions on behalf of their clients. Foreign investors can also acquire their gilts in the secondary market.