Issue - meetings

Recommended: That Full Council agree amendment to the Treasury Management Annual Investment Strategy per Annex B of the report and the Creditworthiness Policy wording to:

“Typically the minimum credit ratings criteria the Council use will be a short term rating (Fitch or equivalents) of Short Term rating F1 and Long Term rating A-. There may be occasions when the counterparty ratings from one rating agency are marginally lower than these ratings but may still be used. In these instances consideration will be given to the whole range of ratings available, or other topical market information, to support their use.”

Reason:     To ensure the continued performance of the Council’s Treasury Management function can be monitored.

[See also Part A minute]

The Executive considered the annual treasury management review of activities and the prudential and treasury indicators for 2014/15, as required by regulations issued under the Local Government Act 2003.

Consideration was also given to an amendment requested to the Treasury Management Annual Investment Strategy, as outlined at Annex B of the report in relation to the Creditworthiness Policy.

Recommended: That Full Council agree amendment to the Treasury Management Annual Investment Strategy per Annex B of the report and the Creditworthiness Policy wording to:

“Typically the minimum credit ratings criteria the Council use will be a short term rating (Fitch or equivalents) of Short Term rating F1 and Long Term rating A-. There may be occasions when the counterparty ratings from one rating agency are marginally lower than these ratings but may still be used. In these instances consideration will be given to the whole range of ratings available, or other topical market information, to support their use.” ^1.

Reason:     To ensure the continued performance of the Council’s Treasury Management function can be monitored.