HM Treasury updated its Financial Transaction Control Framework on Oct. 28, adding draft guidance on devolved transactions and clarifying designation rules for institutions handling government lending and investment.
Draft Chapter 6 addresses how devolved financial transactions fit the framework following the government’s announcement of a new borrowing facility for mayoral strategic authorities. HM Treasury also revised Annex A to explain how institutions can seek designation as public financial institutions.
The framework covers government loans and investments in financial assets such as equity. It calls for public financial institutions with relevant expertise to handle newly proposed transactions on a large scale. It also commits the government to reporting on the value and performance of assets it holds.
When an investment is expected to lose money from the outset, the framework commits to including its costs in departmental budgets. It also introduces controls calibrated to risk. The GOV.UK page lists the framework as first published on Oct. 30, 2024, and last updated on Oct. 28, 2026.