NS&I withdraw certificates from sale
Despite the Treasury giving National Savings and Investments (NS&I) a more generous financing target in the last Budget, the organisation has been forced to withdraw its fixed interest and index-linked savings certificates from sale due to significant interest from investors.
Since the certificates were relaunched in May 2011, nearly 500,000 transactions have been processed, pushing NS&I close to the upper end of its net financing target range and forcing the withdrawal.
The target ensures that NS&I is unable to dominate the market by attracting too much money from investors. Otherwise there is a risk of destabilising the market and affecting the ability of banks to lend money to customers.
