CGNCRCentral Government Net Cash Requirement
References in periodicals archive ?
However, by lowering the CGNCR, the actual amount of gilts the government has to issue is reduced, as more of the PSNB is met through the cash transfer from the APF rather than through the gilt issuance.
This will increase the CGNCR and the government will have to meet this higher requirement, most likely through a larger issuance of gilts.
However, it would simultaneously reduce the net cash transfer to HM Treasury and as such push up on CGNCR and likely borrowing, undoing some of the impact on PSND discussed previously.