Decision details

That Cabinet recommend to Council that they note the Council’s Treasury Management Performance in 2008-09.

2.1 Cabinet recommended to Council that they note the Council’s Treasury Management Performance in 2008-09.

2.2 That Cabinet noted the following changes to 2009-10 counterparty limits, authorised by the Chief Finance Officer (the Section 151 Officer), on 12 June 2009:

·        An increase in the maximum level of investment with any counterparty, or group of counterparties from £10m to £15m.

That under the additional restrictions to counterparty criteria and limits in place for 2009-10 set out in the Treasury Strategy, the increased limit should apply only to the maximum amounts permitted for investments with the UK Debt Management Office and with the UK nationalised/part nationalised banking groups included on the Sector list (Lloyds Banking Group, Royal Bank of Scotland Group and Northern Rock).