Agenda item

Interest Rates for Loan Facilities - Annual Review

Report of the Chamberlain.

Minutes:

The Committee considered a Report of the Chamberlain concerning the Corporation’s loan facility arrangements to the institutional departments and third party bodies within the City of London Corporation ‘family’.

 

RESOLVED – that the Committee approved:

 

·         the interest rate for loan facilities for City’s Cash should remain at 2.35%;

·         the interest rate for loan facilities for City Fund should be the PWLB rate for the relevant tenure prevailing on the date the loan is agreed; and

·         that these rates should be reviewed in 12 months’ time .

Supporting documents: