Decision details

Cabinet resolved to recommend the Assembly to approve the following changes to the Treasury Management Strategy Statement 2013/14:

(i)  Removal of the variable counterparty limit for Lloyds Bank, currently the higher of £40m or 40% of total investable cash, to a fixed limit of £50m;

(ii)  To allow the in-house Treasury section to manage (hold and sell), but not purchase, UK government GILTS with maturities in excess of one year and up to a maximum maturity period of five years; and

(iii)  To allow the in-house Treasury section to invest in non-UK banks that meet the minimum credit rating colour band up to a maximum of £10m per counterparty and up to a total limit of £30m for all non-UK banks.