TRANSMITTAL LETTER FOR BOARD MEETING OF FEBRUARY 1, 2024
COMMITTEE ON FINANCE
Mr. Brian A. Perkovich, Executive Director
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Report on investment inventory statistics at December 31, 2023
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Dear Sir:
Attached is a report of Investment Inventory Statistics at December 31, 2023, and a summary of Financial Market Statistics for the fourth quarter of 2023.
The average interest rate of the investment inventory at the end of December was 4.32%, an increase from 3.95% at September 30, 2023. The total par value of the inventory was $955,538,560.21 at month-end. The average level of investment for the quarter was 100% of available funds, exclusive of required compensating cash balances.
The District’s portfolio underperformed its benchmark, the 90-day Treasury Bill, whose twelve-month rolling average yield was 5.15% as of December 31st. The Federal Funds rate, a daily borrowing rate between banks, was 5.33% at month-end, reflecting the recent increases to interest rates.
Respectfully Submitted, Wendy N. Sin, Acting Treasurer, WNS:eh
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