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Annual consultation minutes highlights

GILTS
  • GEMMs supported a larger proportion of issuance in 2023/24 to be in shorts/mediums vs longs (relative to the 2022/23 fiscal year). Investors supported either a similar proportion of short/mediums to this year or "slightly larger".
  • GEMMs were cautious about the size of the linker programme while there were mixed views about the size of the linker programme from investors.
  • There was also some support from GEMMs and investors for more issuance in bills versus gilts.
  • GEMMs supported the continued use of the PAOF with some suggesting that the window could be extended and that green gilts could also be eligible.

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