TRANSMITTAL LETTER FOR BOARD MEETING OF OCTOBER 19, 2017
COMMITTEE ON FINANCE
Mr. David St. Pierre, Executive Director
Title
Report on investment inventory statistics at September 30, 2017
Body
Dear Sir:
Attached is a report of Investment Inventory Statistics at September 30, 2017, and a summary of Financial Market Statistics for the third quarter of 2017.
The average interest rate of the investment inventory at the end of September was 1.17%, an increase from 1.06% at June 30, 2017. The total par value of the inventory was $899,459,831.30 at month-end.
The Federal Funds rate, a daily borrowing rate between banks, was 1.07% at month-end, down from 1.18% at June 30, 2017. The average yield on the benchmark 90-day Treasury Bill at September 30th was 1.05%, while the District ending investment portfolio average interest rate was 1.17%, significantly greater than the benchmark for the portfolio. The average level of investment for the quarter was 100% of available funds, exclusive of required compensating cash balances.
Respectfully Submitted, Mary Ann Boyle, Treasurer, MAB:st
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