Agenda item

Treasury Management Update as at 31 July 2021

Report of the Chamberlain


The Board received a report of the Chamberlain providing a summary of the City of London Corporation’s treasury management portfolio (investments) as at 31 July 2021. The Chamberlain introduced the report and drew Members’ attention to the key points. The Board noted that cash balances had increased by £200 million during the reporting period due to the proceeds of private placement borrowing agreed for City’s Cash.


In response to a question from a Member regarding a recent investment with Helaba, the Chamberlain advised that in assessing the suitability of the counterparty’s inclusion on the Corporation’s approved lending list, security and liquidity had been prioritised in accordance with the Treasury Management Code of Practice. The Chamberlain added that whilst bespoke ESG analysis of counterparties had not been undertaken on this occasion, consideration should be given to building this into the treasury management processes. With regards to asset allocation, the Chamberlain advised that this would be driven be security and cashflow requirements.


RESOLVED – That the report be noted.

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