Agenda item

Report of the Chamberlain.

The Board received the monthly review for May 2016, which detailed the list of current investments.

Brexit

Members discussed the impact Brexit was having on investment markets, and was likely to have over the near future. The Chamberlain advised that, from a treasury management perspective, the Corporation was in a good position. In response to a Member’s question, it was noted that the Corporation’s counterparty list was made up of small, high quality banks, and was based on the credit ratings of three organisations. Only one of these had downgraded any ratings, and Members were advised that these remained within the Corporation’s parameters. Members noted that senior officers in the Chamberlain’s department received daily updates on the counterparty list and met regularly to discuss the present situation and the next twelve months, and were satisfied with the Corporation’s position.

RESOLVED – That the report be noted.