Global Cyber Outage Delays UK T-Bill Tender
The UK's Debt Management Office extended the bidding time for Treasury bills to 1330 GMT due to a global cyber outage affecting major banks. They aim to sell 6.5 billion pounds in short-term government debt to manage cash flow. Despite the issues, the DMO's systems remain unaffected.
In response to a global cyber outage affecting major financial institutions, the UK's Debt Management Office (DMO) has extended the bidding deadline for Treasury bills to 1330 GMT this Friday. Typically, such tenders conclude by 1000 GMT.
The DMO plans to offload 6.5 billion pounds ($8.4 billion) worth of Treasury bills. These short-term government debts are crucial for managing the British government's cash flows. In a statement, the DMO assured that bids submitted prior to this announcement would still be considered valid.
Importantly, the DMO confirmed that while other sectors like airlines, healthcare providers, and broadcasters had been affected by the cyber outage, their systems remained operational and unaffected.
(With inputs from agencies.)