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Money Markets

Debt Management Account Deposit Facility (DMADF)

The DMO provides the DMADF as part of its cash management operations and in the context of a wider series of measures designed to support local authorities' cash management. The key objective of the DMADF is to provide users with a flexible and secure facility to supplement their existing range of investment options while saving interest costs for central government.

The DMADF currently offers fixed term deposits. All deposits taken will be placed in, and interest paid from, the Debt Management Account and therefore represent a direct claim on HM Government.

How to apply

Follow the four steps below

  1. Check the list of eligible institutions - only eligible institutions will be considered.
  2. Read the DMADF Operational Notice - this contains important information and details of the contractual agreement you will be entering into with the DMO.
  3. Read the guidance Notes to the Application form
  4. Complete and send the DMADF application form together with the properly headed Adherence to the Operational Notice (Part B of the form) and all accompanying documentation to the DMO.

Amendment of current details for existing DMADF clients

If you are acting on behalf of an existing client of the Facility, please complete this form if you wish to amend the details held by the DMO as to your standard settlement instructions, authorised dealers and/or authorised signatories.

Please note the Amendment Form must be printed onto your institution’s headed notepaper. It also requires two signatories; one of which should be the officer designated by section 151 of the Local Government Act 1972 or section 95 of the Local Government (Scotland) Act 1973 (or equivalent).

Please print the form, complete the relevant sections, ensure it is signed and return to the address provided in the form.

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Eligible institutions

In order for your application to be considered, the institution you are making an application on behalf of needs to fall within the list of eligible institutions as set out below:

  • the councils of all counties and districts in England
  • the councils of all counties and county boroughs in Wales
  • the councils of all London boroughs
  • the Common Council of the City of London
  • the Greater London Authority and its functional bodies
  • the councils of local government areas in Scotland
  • the Council of the Isles of Scilly
  • the Broads Authority
  • national park authorities established under the Environment Act 1995
  • integrated transport authorities
  • a combined authority established under the Local Democracy, Economic Development and Construction Act 2009
  • passenger transport executives
  • police and crime commissioners
  • fire and rescue authorities
  • waste disposal authorities
  • port health authorities
  • other authorities in England, Wales or Scotland having power to levy council tax or to issue a precept or levy

 

Contact details

If you have any queries on the above, or, for further details about the DMADF please contact:

e-mail:            dmadf@dmo.gov.uk

Telephone:     020 7862 6698    

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