HMT central funds
This collection brings together the Consolidated Fund, the National Loans Fund, the Contingencies Fund and the Exchange Equalisation Account.
The following central funds are administered by HM Treasury which includes producing annual accounts. The maintenance and integrity of the content on this page is the responsibility of the relevant Accounting Officer; the work carried out by the auditors does not involve consideration of these matters and accordingly the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially presented on the website.
Read the HM Treasury annual reports and accounts.
Consolidated Fund
The Consolidated Fund receives the proceeds of taxation and other government receipts which fund public expenditure.
National Loans Fund
The National Loans Fund is used to account for government borrowing and lending.
Contingencies Fund
The Contingencies Fund is used to finance payments for urgent services in anticipation of Parliamentary provision, to provide funds required temporarily by government departments and to meet other temporary cash deficiencies.
Exchange Equalisation Account
The Exchange Equalisation Account (EEA) was established in 1932 to provide a fund which could be used for “checking undue fluctuations in the exchange value of sterling”. Under the consolidating Exchange Equalisation Account Act 1979, it may also be used to secure the conservation or disposition in the national interest of making payments abroad and for certain purposes arising out of the UK’s membership of the IMF including the holding, purchase and sale of Special Drawing Rights (SDRs). It holds the UK’s reserves of gold, foreign currencies and SDRs.
Updates to this page
Last updated 18 October 2024 + show all updates
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National Loans Fund account 2023 to 2024 added.
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Consolidated Fund account 2023 to 2024 added
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Exchange Equalisation Annual Report and Accounts 2023-24 added.
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Contingencies Fund account 2023 to 2024 added.
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National Loans Fund account 2022 to 2023 and Consolidated Fund account 2022 to 2023 added
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Updated with: Exchange Equalisation Account: report and accounts 2022 to 2023
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Updated with: Contingencies Fund account 2022 to 2023
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National Loans Fund account 2021 to 2022 and Consolidated Fund account 2021 to 2022 added
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Contingencies Fund account 2021 to 2022 added
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Exchange Equalisation Account: report and accounts 2021 to 2022 added
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Added: 'Consolidated Fund account 2020 to 2021' and 'National Loans Fund account 2020 to 2021'
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Added: 'Contingencies Fund account 2020 to 2021'
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Added: 'Exchange Equalisation Account: report and accounts 2020 to 2021'
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Updated with 'Exchange Equalisation Account: report and accounts 2019 to 2020', 'Contingencies Fund account 2019 to 2020', 'Consolidated Fund account 2019 to 2020' and 'National Loans Fund account 2019 to 2020'.
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'Updated with 'Consolidated Fund account 2018 to 2019', 'National Loans Fund account 2018 to 2019' and 'Exchange Equalisation Account: report and accounts 2018 to 2019'.
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Updated with 'Contingencies Fund account 2018 to 2019'.
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Updated with Consolidated Fund account 2017 to 2018, National Loans Fund account 2017 to 2018 and Exchange Equalisation Accounts 2017 to 2018
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Updated with Contingencies Fund account 2017 to 2018
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Latest EEA added.
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Updated with Consolidated Fund account 2016 to 2017 and National Loans Fund account 2016 to 2017
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Updated with Contingencies Fund account 2016 to 2017
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Updated: Exchange Equalisation Accounts 2015 to 2016
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Updated with: Contingencies Fund account 2015 to 2016, National Loans Fund account 2015 to 2016 and Contingencies Fund account 2015 to 2016
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Updated to include Contingencies fund
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Updated with latest EEA, Consolidated fund, and NLF
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First published.