TRANSMITTAL LETTER FOR BOARD MEETING OF NOVEMBER 5, 2020
COMMITTEE ON FINANCE
Mr. Brian A. Perkovich, Executive Director
Title
Report on investment inventory statistics at September 30, 2020
Body
Dear Sir:
Attached is a report of Investment Inventory Statistics at September 30, 2020, and a summary of Financial Market Statistics for the third quarter of 2020.
The average interest rate of the investment inventory at the end of September was 0.55%, a decrease from 0.83% at June 30, 2020. The total par value of the inventory was $766,739,794.01 at month-end.
The Federal Funds rate, a daily borrowing rate between banks, was 0.08% at month-end, unchanged from June 30, 2020. The average yield on the benchmark 90-day Treasury Bill at September 30th was 0.10%, while the District ending investment portfolio average interest rate outperformed at 0.55%. 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
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