The Debt Office is responsible for managing central government debt and handling government guarantees and loans. We are also responsible for the deposit insurance and the cash management service for all government agencies.
Every autumn the Riksdag (Swedish Parliament) adopts the central government budget for the coming year following a proposal from the Government. However, the actual outcome of central government payments may differ from the budget.
Our role is to borrow money every day when central government's expenditure is greater than its income (deficit) and to pay off (amortise) central government debt when there is a surplus.
Central government debt is the debt that central government has built up over the years when its expenditure has been greater than its income.
When we raise loans at short maturities, they are called overnight loans or treasury bills. The loans we raise for longer period are called bonds. In addition to financing day-to-day payments we also raise new loans when old loans in central government debt mature.
By law, central government debt must be managed so that the cost of the debt is minimised, while ensuring that the risks do not become too great. The Government determines the guidelines for the administration of central government debt that the Debt Office has to follow.
The Debt Office has no influence on the central government budget.