Decision details

This report summarises the Council’s investment activity up to 30 June 2014 and provides details of the Council’s money market transactions.

Under the Code of Conduct that governs the operation of the money markets, it is not possible to make public details of specific transactions.  For this reason, Appendix A is included in the confidential part of the agenda.

This report gives the Executive the opportunity to review the treasury management activity up to 30 June 2014 along with the Treasury and Prudential Indicators.

The overall position is set out in the following table:

The actual fixed term investments are set out in Appendix A with more detailed information set out in the briefing paper.

The minimum credit rating criteria for counterparties has been reviewed due to anticipated regulatory changes in the banking sector.  It is recommended that the Treasury Management Strategy for 2014/15 is updated to take into account the changes.

Performance for the first quarter of the year for the Treasury and Prudential Indicators are shown in detail in Appendix B.  During the financial year to date the Council has operated within the treasury limits and Prudential Indicators.

RESOLVED that the treasury management monitoring report be noted and that the minimum credit ratings for counterparties in the Treasury Management Strategy 2014/15 are updated in light of anticipated regulatory changes in the bank sector.