Application Process
Application process
20. Eligible institutions are required to use the proforma application form available on the UK Debt Management Office (DMO) website. This will need to be completed, signed and returned to the DMO.
21. In its notice of 8 October, HM Treasury named the following institutions as initially eligible to issue guaranteed debt under the Scheme: Abbey; Barclays; HBOS; HSBC Bank plc; Lloyds TSB; Nationwide Building Society; Royal Bank of Scotland, and Standard Chartered. Further institutions may be added at the discretion of the Government provided they meet the eligibility criteria specified above.
22. The precise legal entity from each of those groups participating in the Scheme, and the instruments guaranteed, will be announced as appropriate on the DMO website (www.dmo.gov.uk).
23. Applicants will be encouraged to keep the DMO informed of any plans to utilise the Scheme in a timely manner. Typically, applications received by the DMO before 10:00am on any UK business day will, providing that they are complete and meet the necessary criteria, be approved on the same day. Those received after 10:00am will typically be approved on the following business day.
24. Enquiries on the application process may be made between 8:00am and 5:00pm on any UK business day to the DMO’s dealing team on 0845 357 6517/6518.
