UK Gilt Market: From Consols to the Gilt-Edged Market, 1694–1997

1. Bank of England founded to fund war

   Jul 27, 1694Labels: Bank of, Royal Charter

   • BoE History
   • BoE FOI 1694

2. South Sea scheme links debt and speculation

   Jan 1, 1720Labels: South Sea

   • Britannica
   • Britannica 1911

3. Three Per Cent Consols created

   Jan 1, 1751Labels: 3 Consols

   • Britannica 1911
   • Consols

4. National Debt reduction body established

   Jan 1, 1786Labels: Commissioners for

   • CRND
   • Mullens

5. Bank Charter Act tightens note-issue rules

   Jul 19, 1844Labels: Bank Charter

   • Britannica
   • UK Legislation

6. Treasury Bills Act creates modern bill framework

   Mar 16, 1877Labels: Treasury Bills

   • DMO T bills
   • Treasury Act

7. Goschen Conversion reduces consol interest costs

   Mar 15, 1888Labels: Goschen Conversion

   • Hansard 1888
   • Consols

8. UK suspends gold standard during crisis

   Sep 20, 1931Labels: Gold Standard

   • LBMA
   • September 1931

9. Bank of England nationalised

   Feb 14, 1946Labels: Bank of, nationalisation

   • BoE Owners
   • BoE FOI 1946

10. First UK index-linked gilt issued

    Mar 27, 1981Labels: Index-linked Gilt

    • DMO Linkers
    • Parliament 1999

11. Big Bang reforms reshape gilt market-making

    Oct 27, 1986Labels: Big Bang, GEMMs

    • UK Parliament
    • IHR Jobbing

12. Bank introduces gilt repo in market operations

    Mar 3, 1997Labels: Gilt Repo, Bank of

    • BoE 1997
    • DMO Gilt Market

13. Debt Management Office takes over gilt issuance

    Apr 1, 1998Labels: Debt Management

    • UK Parliament
    • DMO

14. Bank of England Act 1998 formalises independence

    Jun 1, 1998Labels: Bank of, Monetary Policy

    • BoE Act 1998
    • DMO Gilt Market