[1] It allows local authorities to diversify funding sources and borrow at a lower cost than is available from Central Government via the Public Works Loan Board of the UK Debt Management Office, which is part of HM Treasury.
[2] The agency will sell municipal bonds on the capital markets, raising funds that it will then lend to councils.
[5] In October 2019, PFM Financial Advisors LLC were appointed as the managed service provider to the UK Municipal Bonds Agency.
[8] Sir Stephen Houghton, leader of Barnsley Metropolitan Borough Council and chair of Sheffield City Region Combined Authority, has been appointed senior independent director.
[8] Other appointments include Derrick Anderson, former chief executive of Lambeth and Wolverhampton councils; Mridul Hegde, a former director of public spending at the Treasury;[5] and Melanie McLaren, executive director of codes and standards of the Financial Reporting Council.