TRANSMITTAL LETTER FOR BOARD MEETING OF AUGUST 12, 2010
COMMITTEE ON FINANCE
Mr. Richard Lanyon, Executive Director
Title
Report on investment inventory statistics at June 30, 2010
Body
Dear Sir:
Attached are a report of Investment Inventory Statistics at June 30, 2010, and a summary of Financial Market Statistics for the second quarter of 2010.
The average interest rate of the investment inventory at the end of June was 1.06%, up from 0.93% at March 31, 2010. The total par value of the inventory was $882,919,048.96 at month-end.
The Federal Funds rate, a daily borrowing rate between banks, was 0.16% at month-end, up from March 31, 2010. The average yield on the benchmark 90-day Treasury Bill at June 30th was 0.16%, while the District ending investment portfolio average interest rate was 1.06%, 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, Harold G. Downs, Treasurer, HGD:wns
Attachment