1. Government Liquidity Funds AAA In-house AAA 2. Money Market Funds 3. Enhanced Cash Funds AA In-house 4. Pooled Funds, such as those investing in AA- sovereign bonds, corporate bonds, property funds, In-house equity funds Accounting treatment of investments. The accounting treatment may differ from the underlying cash transactions arising from investment decisions made by this Council. To ensure that the Council is protected from any adverse revenue impact, which may arise from these differences, we will review the accounting implications of new transactions before they are undertaken. A maximum of 40% will be held in aggregate in NON-SPECIFIED INVESTMENTS: investment Maturities of ANY period Where applicable limits are per Bank Group and not * Minimum Credit Max. maturity Use Max % of fund individual Banks within a Criteria period Group Commercial paper issuance Short-term F1, covered by a specific UK In- house and Long-term A, 15% 270 days Government (explicit) Fund Manager Viability BB+ guarantee Short-term F1, In- house and Commercial paper other Long-term A, 15% 270 days Fund Manager Viability BB+ Other debt issuance by UK Short-term F1, banks covered by UK In- and Fund Long-term A, 15% 2 years Government (explicit) Manager Viability BB+ guarantee * Minimum Credit Max. maturity Use Max % of fund Criteria period F1, Bonds Secured (i.e. with In- house and – Long-term A, 15% 2 years collateral or other cover) Fund Manager Viability BB+ Short-term F1, In- house and Bonds Unsecured Long-term AA-, 15% 2 years – Fund Manager Viability BB+
1. Government Liquidity Funds AAA In-house 2. Money Market Funds AAA 3. Enhanced Cash Funds AA In-house 4. Pooled Funds, such as those investing in sovereign bonds, corporate bonds, property funds, equity funds AA- In-house Accounting treatment of investments. The accounting treatment may differ from the underlying cash transactions arising from investment decisions made by this Council. To ensure that the Council is protected from any adverse revenue impact, which may arise from these differences, we will review the accounting implications of new transactions before they are undertaken. NON-SPECIFIED INVESTMENTS: A maximum of 40% will be held in aggregate in investment Maturities of ANY period Where applicable limits are per Bank Group and not individual Banks within a Group * Minimum Credit Criteria Use Max % of fund Max. maturity period Commercial paper issuance covered by a specific UK Government (explicit) guarantee Short-term F1, Long-term A, Viability BB+ In- house and Fund Manager 15% 270 days Commercial paper other Short-term F1, Long-term A, Viability BB+ In- house and Fund Manager 15% 270 days Other debt issuance by UK banks covered by UK Government (explicit) guarantee Short-term F1, Long-term A, Viability BB+ In- and Fund Manager 15% 2 years * Minimum Credit Criteria Use Max % of fund Max. maturity period Bonds – Secured (i.e. with collateral or other cover) F1, Long-term A, Viability BB+ In- house and Fund Manager 15% 2 years Bonds – Unsecured Short-term F1, Long-term AA-, Viability BB+ In- house and Fund Manager 15% 2 years