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CIPFA Scottish Treasury Management Forum Current Investment Practices And Investment Framework

Scottish Treasury Management Forum. CIPFA Scottish Treasury Management Forum Current Investment Practices And Investment Framework. Scottish Treasury Management Forum. Investments - Overview. The 2009 remit was to:.

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CIPFA Scottish Treasury Management Forum Current Investment Practices And Investment Framework

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  1. Scottish Treasury Management Forum CIPFA Scottish Treasury Management Forum Current Investment Practices And Investment Framework

  2. Scottish Treasury Management Forum Investments - Overview The 2009 remit was to: “review the current investment management practices and bring forward proposals which would form a framework for authorities to work within which will ensure a consistency of approach based on a sound risk assessment in relation to investment opportunities”

  3. Scottish Treasury Management Forum 2009 Summary • Authorities have taken a range of pro-active measures to manage and mitigate the investments risks over the last two years • Authorities have different requirements and therefore different appetites for risk • In light of their risk appetite, authorities should continue to consider how they manage their counterparty risk e.g. from the perspective of number, level of commitment, quality etc • The lessons of BCCI should not be lost on authorities • Where appropriate, authorities should consider other investment opportunities

  4. Scottish Treasury Management Forum 2009 - Other Investment Options • Premature Debt Redemption • Money Market Funds? • Collective Local Authority Investment Product? • Government Backed Certificates of Deposit • Treasury Bills • Other Products?

  5. Scottish Treasury Management Forum Liquidity Security Yield

  6. Scottish Treasury Management Forum Security - 2009 Actions Already Taken • Significant premature repayment of PWLB debt to de-risk investment portfolio • A reduction in the periods which deposits are placed for • A tightening of credit criteria used to produce the counterparty list • Investment with counterparties which would be most likely to receive UK Government and Central Bank support • Greater use of instant access accounts • Inclusion of additional more secure counterparties such as the DMO

  7. Scottish Treasury Management Forum Refinancing Risk v. Counterparty Risk

  8. Scottish Treasury Management Forum 31 March 2011 Debt LGov Fin Stats Total Debt £11,490,801 (‘000) TMF Gross Debt £10,507,658 (‘000)

  9. Scottish Treasury Management Forum Whole of Scotland LAs – PWLB Maturity Profile

  10. Scottish Treasury Management Forum Whole of Scotland LAs – PWLB Rates

  11. Scottish Treasury Management Forum Security - Counterparty Concentration - 2009

  12. Scottish Treasury Management Forum Security - Counterparty Concentration - 2011

  13. Scottish Treasury Management Forum Security / Yield - Deposit Rates

  14. Scottish Treasury Management Forum Investments - Scotland-wide Summary + £748 million

  15. Scottish Treasury Management Forum Investments - Scotland-wide Summary

  16. Scottish Treasury Management Forum Investments - Scotland-wide Summary

  17. Scottish Treasury Management Forum Investments - Scotland-wide Summary

  18. Scottish Treasury Management Forum Investments - Scotland-wide Summary

  19. Scottish Treasury Management Forum Investments - Scotland-wide Summary

  20. Scottish Treasury Management Forum Investments - Scotland-wide Summary

  21. Scottish Treasury Management Forum Security / Yield - Deposit Rates

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