The Treasury is making a minor modification to the New Zealand Debt Management Office (NZDMO) name by removing the word ‘Office’ from the current title. From 31 October, the function will be titled simply: ‘New Zealand Debt Management’.
The modified title does not signal any change to how the Crown’s borrowing programme is executed or the funding strategy overall. The principles of transparency, even-handedness and consistency remain core to the Treasury’s debt management practices.
The change is being made in parallel with internal changes to the Financial Operations directorate in which the debt management function sits. The directorate has recently revised its vision and mandate and has been retitled, Capital Markets to reflect a broader mandate and refreshed vision.
The NZDMO has always formed part of the Treasury and securities issued are in the name of Her Majesty the Queen in Right of New Zealand. As such, the NZDMO title has not ever represented a legal entity or form. Consequently, these changes will not affect any existing contracts or commercial arrangements with the NZDMO.
Emily Marden | Communication and Engagement Specialist | The Treasury
Tel: +64 4 917 6302