LETTERS OF CREDIT. Standing Behind Member Obligations
|
|
- Corey Dalton
- 5 years ago
- Views:
Transcription
1 LETTERS OF CREDIT Standing Behind Member Obligations
2 Letters of Credit Federal Home Loan Bank of Pittsburgh s (FHLBank) Standby Letter of Credit (LC) products offer a number of useful business solutions to member financial institutions. LCs are issued to a third-party beneficiary on a member s behalf to function as an independent guarantee of the member s obligation. LCs require the same collateral as that applicable to advances and qualify for activity-based capital stock dividends, reducing all-in cost. Members use LCs to: Support or obtain public unit deposits Support their payment obligations to third parties Provide credit enhancements FHLBank is not permitted to issue commercial LCs or LCs to foreign beneficiaries. LCs serve to mitigate risk to beneficiaries, lower bondrelated financing costs and enable member involvement in community projects.
3 LC Options LCs to Secure Public Unit Deposits Particularly beneficial for accounts exceeding Federal Deposit Insurance Corporation (FDIC) insurance levels, these standby LCs are a unique offering of an FHLBank. Individual state laws permit the use of FHLBank LCs to secure public funds held by municipalities, school districts and other public depositors. Members seeking to garner public deposit accounts can do so with attractive pricing when considering the all-in cost including activity-based capital stock dividends. To be sure that a customer and its deposits meet the Federal Deposit Insurance Corporation s (FDIC s) definitions of a public unit, please visit deposit/deposits/factsheet.html. Only an FHLBank can issue LCs to secure public unit deposits. They are accepted in 47 states, including Delaware, Pennsylvania, West Virginia, the District of Columbia and the U.S. Virgin Islands. Member Public Unit Deposits FDIC Insurance Coverage up to $250,000 Request for Letter of Credit Beneficiary (Depositor) Letter of Credit To access a customizable flier that supports member conversations with public unit customers and prospects, visit Products-Letters of Credit.
4 As a bank that doesn t hold much in the way of unencumbered investment securities, we used FHLBank s Letter of Credit products to reach a deposit segment that we otherwise wouldn t have been able to reach. Using them is a cost effective, effortless process that is much more efficient than pledging investment securities for both the bank and the public funds entity. Confirming LCs Chad R. Wheeler, Treasurer, Senior Vice President Customers Bank To support an LC issued by a member, a confirming LC functions as a secondpay arrangement. In the unlikely event that a member fails to make payment under the member s LC, the beneficiary may demand payment under the FHLBank confirming LC. These may be used to enhance the creditworthiness of certain transactions such as assisted housing bonds, state housing finance bonds, and taxable industrial economic development bonds and insurance premiums. Confirming LCs can be valuable tools to support a member s community investment activities, including: Community and economic development projects Affordable housing projects Direct Pay LCs A direct pay LC is a primary mechanism (without regard to default) for satisfying an applicant s payment obligations over a period of time. For example, it may be used for making payment of principal and interest on commercial paper, medium-term notes and municipal bonds, where the beneficiary requires the payment source to carry a high-quality credit rating with a low degree of risk.
5 LC Benefits Safety Efficiency Ease of Use Community Involvement Flexibility Guarantees payment to third-party beneficiaries as an irrevocable, independent obligation of FHLBank Delivers access to FHLBank s Aaa/AA+ credit rating (Moody s/s&p) Enhances bond-related transactions (e.g., taxable industrial economic development bonds, municipal bonds, commercial paper) Facilitates quick response to opportunities with same-day issuance Using LCs in place of eligible securities specifically for public unit deposits: Unencumbers marketable securities and increases available liquidity Optimizes use of less-liquid loan collateral Provides stability since LC values do not fluctuate with changing market conditions Saves time and expense previously spent selecting, monitoring and preparing reports for eligible securities Is accessed online via Bank4Banks Is renewable automatically with an evergreen clause Uses currently pledged collateral Increases opportunities to invest directly in local, community-based projects Supports affordable housing Helps to potentially meet Community Reinvestment Act (CRA) requirements Includes terms ranging from one day to 20 years Allows single or multiple beneficiaries* Offers fluctuating balance options that keep pace with public unit deposit accounts
6 Offerings FHLBank Pittsburgh offers a broad range of programs, products and services to meet member needs, including: Community Investment Programs Correspondent Services Credit Products Mortgage Partnership Finance (MPF ) Program Bank4Banks 601 Grant Street Pittsburgh, PA All rights reserved. LC *Requires a trust agreement Disclaimer: LCs issued by FHLBank Pittsburgh are governed by various agreements between FHLBank Pittsburgh and its members, as well as certain policies and regulations, which will, in all cases, be determinative. Bank4Banks is a registered trademark of FHLBank Pittsburgh. Mortgage Partnership Finance and MPF are registered trademarks of the Federal Home Loan Bank of Chicago.
Federal Home Loan Bank of Pittsburgh Third Quarter 2018 Member Conference Call
Federal Home Loan Bank of Pittsburgh Third Quarter 2018 Member Conference Call October 31, 2018, at 9 a.m. ET WINTHROP WATSON Good morning and thanks for attending our quarterly member call. I m joined
More informationFederal Home Loan Bank of Pittsburgh Third Quarter 2017 Member Conference Call
Federal Home Loan Bank of Pittsburgh Third Quarter 2017 Member Conference Call November 1, 2017 at 9 a.m. EST WINTHROP WATSON Good morning and thanks for attending our quarterly member call. I m joined
More informationFederal Home Loan Bank of Pittsburgh Year-end and Fourth Quarter 2017 Member Conference Call
Federal Home Loan Bank of Pittsburgh Year-end and Fourth Quarter 2017 Member Conference Call February 27, 2018 at 9 a.m. EST WINTHROP WATSON Good morning and thanks for attending our quarterly member call.
More informationLetters of Credit. A Shareholder s Guide to Using FHLBank Atlanta Letters of Credit
Letters of Credit A Shareholder s Guide to Using FHLBank Atlanta Letters of Credit Member Testimonials MEMBER THE BANK OF TUSCALOOSA, A DIVISION OF SYNOVUS BANK LETTER OF CREDIT TYPE: CONFIRMING FHLBank
More informationFHLB Dallas New Products August 6, 2014
FHLB Dallas New Products August 6, 2014 Steve Otto, Director of Member Sales, steve.otto@fhlb.com Zimri Hunt, Member Sales & Capital Markets Research Manager, zimri.hunt@fhlb.com Bud Gill, Assistant Treasurer,
More informationFederal Home Loan Bank of Pittsburgh First Quarter 2018 Member Conference Call
Federal Home Loan Bank of Pittsburgh First Quarter 2018 Member Conference Call May 1, 2018 at 9 a.m. ET WINTHROP WATSON Good morning and thanks for attending our quarterly member call. I m joined by Kris
More informationImprove Your Liquidity, Income and Efficiency with Federal Home Loan Bank of Des Moines Public Unit Deposit Letter of Credit Opportunity
Improve Your Liquidity, Income and Efficiency with Federal Home Loan Bank of Des Moines Public Unit Deposit Letter of Credit Opportunity Public Unit Deposits as a Source of Financial Institution Funding
More informationFederal Home Loan Bank of Des Moines
Federal Home Loan Bank of Des Moines Federal Home Loan Bank System Established by government charter in 1932, the Federal Home Loan Bank System is the oldest housing government sponsored enterprise (GSE).
More informationThe WealthUSA Retirement Planning Solution. A Tax Free Benefit Plan
The WealthUSA Retirement Planning Solution A Tax Free Benefit Plan How you can protect your family with a life insurance policy, paying NO taxes when you retire and how to be able to deduct the payment
More informationBlackRock Funds Money Market Portfolios
FIXED INCOME LIQUIDITY EQUITIES ALTERNATIVES BLACKROCK SOLUTIONS BlackRock Funds Money Market Portfolios Institutional Shares Prospectus January 31, 2005 BlackRock Funds SM is a mutual fund family with
More informationLetters of Credit A Shareholder s Guide to Using FHLBank Atlanta Letters of Credit
Letters of Credit A Shareholder s Guide to Using FHLBank Atlanta Letters of Credit Shareholder Testimonials USAmeriBank CONFIRMING LETTER OF CREDIT FHLBank Atlanta provided a confirming Letter of Credit
More informationCOLLINGWOOD SCHOOL FOUNDATION
Financial Statements of COLLINGWOOD SCHOOL FOUNDATION Year ended June 30, 2018 KPMG LLP Metro Tower I 4710 Kingsway, Suite 2400 Burnaby BC V5H 4M2 Canada Telephone (604) 527-3600 Fax (604) 527-3636 INDEPENDENT
More informationCash Sweep Program Disclosure Statement
Cash Sweep Program Disclosure Statement Summary Please consult the full text of the disclosure statement below for further information at the pages indicated. Available Sweep Options How the Cash Sweep
More informationEquity and Fixed Income
Equity and Fixed Income This booklet is a summary of useful tax information for various AllianceBernstein funds. It is intended to assist you, as an investor, in the preparation of your 2008 Federal and
More informationPJM Surety Bond Education
PJM Surety Bond Education Agenda PJM and Surety Bond Evolution Surety Bond Basics Surety Bond/LC Similarities and Differences Exelon s View of the Pros and Cons 1 PJM and Surety Bond Evolution Where were
More informationALLIANCEBERNSTEIN TAX BULLETIN
Equity and Fixed Income This booklet is a summary of useful tax information for various AllianceBernstein funds. It is intended to assist you, as an investor, in the preparation of your 2009 Federal and
More informationBuilder Partnerships with Federal Home Loan Banks
1 Builder Partnerships with Federal Home Loan Banks August 3, 2016 Copyright Click to edit Notice Master title style 2 2 Copyright 2016 National Association of Home Builders. All rights reserved. No part
More informationAB TAX BULLETIN AB Tax Forms
This booklet is a summary of useful tax information for various AB funds. It is intended to assist you, as an investor, in the preparation of your 2018 Federal and State tax returns. We recommend you consult
More informationDEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS
DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS LEGAL COMPLIANCE AUDIT GUIDE DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS Introduction A government entity that receives and disburses funds may
More informationInvesting in Community Development Bonds and the Role of FHLBank Atlanta in Public Finance
FOR THOSE PERMISSIONED Investing in Community Development Bonds and the Role of FHLBank Atlanta in Public Finance Patrick Rutledge, AVP / Public Finance Relationship Manager FHLBank Atlanta September 25,
More informationAB TAX BULLETIN AB Tax Forms
This booklet is a summary of useful tax information for various AB funds. It is intended to assist you, as an investor, in the preparation of your 2017 Federal and State tax returns. We recommend you consult
More informationAUDITED FINANCIAL STATEMENTS and other financial information
AUDITED FINANCIAL STATEMENTS and other financial information For the years ended June 30, 2017 and 2016 Audited Financial Statements and Other Financial Information WEST VIRGINIA HOUSING DEVELOPMENT FUND
More information(Rev 13-10/17) Cash Sweep Program Disclosure Statement
586475 (Rev 13-10/17) Cash Sweep Program Disclosure Statement Notice of Important Changes to Our Bank Deposit Sweep Program The Cash Sweep Program Disclosure Statement has been revised to reflect the following
More information(Rev 27-11/17) Cash Sweep Program Disclosure Statement
578326 (Rev 27-11/17) Cash Sweep Program Disclosure Statement Cash Sweep Program Disclosure Statement Summary Please consult the full text of the disclosure statement below for further information at the
More informationExelon Surety Bond Proposal. October 10, 2018 MIC
Exelon Surety Bond Proposal October 10, 2018 MIC Exelon Proposal Surety Bonds Surety Bonds Can Cover All Credit Requirements No increased risk of non-payment relative to letter of credit, so applicability
More informationEquity and Fixed Income
Equity and Fixed Income ALLIANCEBERNSTEIN TAX BULLETIN 2005 This booklet is a summary of useful tax information for various AllianceBernstein funds. It will assist you, as an investor, in the preparation
More informationCash management solutions. Simplify your financial life
Cash management solutions Simplify your financial life How cash fits into your overall financial picture Choose from a wide range of integrated solutions To prepare for your financial future, you are
More informationInvestor Presentation. December 2017
Investor Presentation December 2017 This is not an offer to sell. FHLBank debt is not an obligation of or guaranteed by the United States and may not be offered or sold in any jurisdiction requiring its
More informationDEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS
DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS LEGAL COMPLIANCE MANUAL DEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS Introduction A government entity that receives and disburses funds may deposit
More informationSECURITY AGREEMENT FOR DEMAND DEPOSIT FEE AGENCY ACCOUNTS
SECURITY AGREEMENT FOR DEMAND DEPOSIT FEE AGENCY ACCOUNTS This Security Agreement is made and entered into this day of, 2, by and between the hereinafter called state agency, and, hereinafter called depository
More informationM&T Bank Corporation Announces Third Quarter Results
October 18, 2017 M&T Bank Corporation Announces Third Quarter Results BUFFALO, N.Y., Oct. 18, 2017 /PRNewswire/ -- M&T Bank Corporation ("M&T")(NYSE: MTB) today reported its results of operations for the
More informationAUDITED FINANCIAL STATEMENTS
AUDITED FINANCIAL STATEMENTS For the years ended June 30, 2016 and 2015 Audited Financial Statements WEST VIRGINIA HOUSING DEVELOPMENT FUND For the Years Ended June 30, 2016 and 2015 Audited Financial
More informationFEDERAL HOME LOAN BANKS
FEDERAL HOME LOAN BANKS Combined Financial Report For the Quarterly Period Ended September 0, 0 This Combined Financial Report provides financial information on the Federal Home Loan Banks. Investors should
More informationFEDERAL HOME LOAN BANKS
FEDERAL HOME LOAN BANKS Combined Financial Report for the Quarterly Period Ended September 30, 2015 This Combined Financial Report provides financial information on the Federal Home Loan Banks. Investors
More informationAUDITED FINANCIAL STATEMENTS
AUDITED FINANCIAL STATEMENTS For the years ended June 30, 2010 and 2009 Audited Financial Statements WEST VIRGINIA HOUSING DEVELOPMENT FUND For the Years Ended June 30, 2010 and 2009 Audited Financial
More informationSOLAR PHOTOVOLTAIC ALTERNATIVE ENERGY CREDITS REQUEST FOR PROPOSALS (RFP) RULES
SOLAR PHOTOVOLTAIC ALTERNATIVE ENERGY CREDITS REQUEST FOR PROPOSALS (RFP) RULES Sample Pre-Bid Letter of Credit [On Issuing Bank s Letterhead] IRREVOCABLE STANDBY LETTER OF CREDIT ( Date of Issuance )
More informationResearch. Market Summary. March Contributors
Research Municipal Bond Credit Report The Municipal Bond Credit Report synthesizes, analyzes and presents aggregate credit information and trends in the municipal bond market. The report includes municipal
More informationAPPLICATION FOR STANDBY LETTER OF CREDIT ADVANCE / CONFIRMATION (Evergreen Fluctuating Balance Version)
APPLICATION FOR STANDBY LETTER OF CREDIT ADVANCE / CONFIRMATION TO THE FEDERAL HOME LOAN BANK OF DALLAS: DATE:, 20 Pursuant to, and subject to the terms and conditions of, that certain Agreement for Standby
More information2012 Mutual Fund Tax Information
2012 Mutual Fund Tax Information Your Global Investment Authority PIMCO Funds FOR PIMCO FUNDs SHAREHOLDERS Dear PIMCO Funds Shareholder: This booklet contains tax information to help you file your 2012
More informationCollateralization Requirements for Public Deposits State Issues Brief
Collateralization Requirements for Public Deposits State Issues Brief Collateralization of public deposits by pledging securities or other instruments (e.g., surety bonds or letters of credit) is a method
More informationINVESTOR CONTACT: Donald J. MacLeod FOR IMMEDIATE RELEASE: (716) October 17, 2018 M&T BANK CORPORATION ANNOUNCES THIRD QUARTER RESULTS
INVESTOR CONTACT: Donald J. MacLeod FOR IMMEDIATE RELEASE: (716) 842-5138 October 17, 2018 MEDIA CONTACT: C. Michael Zabel (716) 842-5385 ANNOUNCES THIRD QUARTER RESULTS BUFFALO, NEW YORK -- M&T Bank Corporation
More informationUnderstanding your cash sweep options for the BIA, WCMA, EMA and RCMA accounts
M914471106 Understanding your cash sweep options for the BIA, WCMA, EMA and RCMA accounts The following information is being provided so that you can review your cash sweep option(s) with your Merrill
More informationAre You Paying Avoidable Taxes on Your Social Security Benefits?
Are You Paying Avoidable Taxes on Your Social Security Benefits? The information provided here has been taken from third party sources and is deemed to be reliable, but is not guaranteed. It is believed
More information2016 PIMCO Tax Information
2016 PIMCO Tax Information PIMCO Open-End Mutual Funds PIMCO Closed-End Funds PIMCO SHAREHOLDERS Dear Shareholder: This booklet contains tax information to help you file your 2016 tax returns, including
More informationA Tax Free Benefit Plan
A Tax Free Benefit Plan Learn how you can protect your family with a life insurance policy, paying NO taxes when you retire and how to be able to deduct the payment of your premiums from your company taxes.
More informationPENNSYLVANIA STATE EMPLOYEES RETIREMENT SYSTEM 457 DEFERRED COMPENSATION PLAN. Financial Statements with Required Supplementary Information
Financial Statements with Required Supplementary Information (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Management s Discussion and Analysis (unaudited)
More informationBlackRock Liquidity Funds Prospectus FEBRUARY 21, Cash Reserve Shares
BlackRock Liquidity Funds Prospectus FEBRUARY 21, 2006 Cash Reserve Shares The Securities and Exchange Commission has not approved or disapproved the Funds shares or determined if this prospectus is accurate
More informationBlackRock Liquidity Funds Prospectus FEBRUARY 21, Administration Shares
BlackRock Liquidity Funds Prospectus FEBRUARY 21, 2006 Administration Shares The Securities and Exchange Commission has not approved or disapproved the Fund s shares or determined if this prospectus is
More informationSECURITY AGREEMENT For State of Kansas Certificates of Deposits
SECURITY AGREEMENT For State of Kansas Certificates of Deposits This security agreement is made and entered into this day of, 20, by and between the Pooled Money Investment Board, Topeka, Kansas, hereinafter
More informationINVESTOR CONTACT: Donald J. MacLeod FOR IMMEDIATE RELEASE: (716) July 18, 2018 M&T BANK CORPORATION ANNOUNCES SECOND QUARTER RESULTS
INVESTOR CONTACT: Donald J. MacLeod FOR IMMEDIATE RELEASE: (716) 842-5138 July 18, 2018 MEDIA CONTACT: C. Michael Zabel (716) 842-5385 ANNOUNCES SECOND QUARTER RESULTS BUFFALO, NEW YORK -- M&T Bank Corporation
More informationAUDITED FINANCIAL STATEMENTS and other financial information
AUDITED FINANCIAL STATEMENTS and other financial information For the years ended June 30, 2018 and 2017 Audited Financial Statements and Other Financial Information WEST VIRGINIA HOUSING DEVELOPMENT FUND
More informationM&T Bank Corporation Announces 2018 Fourth Quarter and Full-Year Results
FOR IMMEDIATE RELEASE Media Contact: C. Michael Zabel (716) 842-2311 Investor Contact: Donald J. MacLeod (716) 842-5138 M&T Bank Corporation Announces 2018 Fourth Quarter and Full-Year Results BUFFALO,
More informationCredit Opinion: Federal Home Loan Banks
Credit Opinion: Federal Home Loan Banks Global Credit Research - 25 Jun 2015 Reston, Virginia, United States Ratings Category Moody's Rating Outlook Stable Senior Unsecured Aaa ST Issuer Rating P-1 Other
More informationM&T Bank Corporation Announces Second Quarter Results
M&T Bank Corporation Announces Second Quarter Results July 18, 2018 BUFFALO, N.Y., July 18, 2018 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) today reported its results of operations for quarter
More information2017 PIMCO Tax Information
2017 PIMCO Tax Information PIMCO Open-End Mutual Funds PIMCO Closed-End Funds PIMCO Interval Funds PIMCO SHAREHOLDERS Dear Shareholder: This booklet contains tax information to help you file your 2017
More informationYear-End Tax Tables Applicable to Form 1099-DIV Page 2 Qualified Dividend Income
Year-End Tax Tables This document contains general information to assist you in completing your 2016 tax returns. You should consult your tax advisor to determine the appropriate use of these tables. This
More informationM&T Bank Corporation Announces 2018 Fourth Quarter And Full-Year Results
M&T Bank Corporation Announces 2018 Fourth Quarter And Full-Year Results January 17, 2019 BUFFALO, N.Y., Jan. 17, 2019/PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) today reported its results
More information2009 Investment Loan Program. Reference Guide. value choice ADVISOR INFORMATION ONLY
2009 Investment Loan Program Reference Guide value choice ease ADVISOR INFORMATION ONLY Table of Contents Identifying the opportunities 2 How we can help 3 Lending programs 4 Application guidelines 4 Qualifying
More informationPrince William Self-Insurance Group Workers Compensation Association. Financial Report June 30, 2015 and 2014
Prince William Self-Insurance Group Workers Compensation Association Financial Report Contents Report of Independent Auditor 1-2 Management s Discussion and Analysis (Unaudited) 3-6 Basic Financial Statements
More informationINVESTOR CONTACT: Donald J. MacLeod FOR IMMEDIATE RELEASE: (716) April 16, 2018 M&T BANK CORPORATION ANNOUNCES FIRST QUARTER RESULTS
INVESTOR CONTACT: Donald J. MacLeod FOR IMMEDIATE RELEASE: (716) 842-5138 April 16, 2018 MEDIA CONTACT: C. Michael Zabel (716) 842-5385 ANNOUNCES FIRST QUARTER RESULTS BUFFALO, NEW YORK -- M&T Bank Corporation
More informationCOMMUNITY BANK FE DERAL HO ME LO A N B A N K O F AT LA N TA
COMMUNITY BANK A P P L I C AT I O N F O R M E M B E R S H I P FE DERAL HO ME LO A N B A N K O F AT LA N TA COMMUNITY BANK APPLICATION FOR MEMBERSHIP IN THE FEDERAL HOME LOAN BANK OF ATLANTA GENERAL INSTRUCTIONS
More informationTax update 2016 Important information to prepare your tax return
00186350 Tax update 2016 Important information to prepare your tax return Included in this edition, tax information for the Deutsche funds Tax-exempt income notes Percentage of 2016 tax-exempt income by
More informationWhat makes bonds marketable... or not! And - a program that can help. Patrick Rutledge, AVP / Public Finance Relationship Manager FHLBank Atlanta
What makes bonds marketable... or not! And - a program that can help. Patrick Rutledge, AVP / Public Finance Relationship Manager FHLBank Atlanta 1 Disclaimer Certain information contained herein has been
More informationCredit Opinion: Federal Home Loan Banks
Credit Opinion: Federal Home Loan Banks Global Credit Research - 25 Jul 2013 Reston, Virginia, United States Ratings Category Moody's Rating Outlook Stable Senior Unsecured Aaa ST Issuer Rating P-1 Contacts
More information2016 NASACT ANNUAL CONFERENCE
2016 NASACT ANNUAL CONFERENCE Collateralization of Public Fund Deposits Current Issues and Developments Laura Glenn Georgia State Treasurer s Office Dan Van Vooren Bank of America Merrill Lynch Moderated
More informationDEPOSITORIES OF PUBLIC FUNDS AND PUBLIC INVESTMENTS
DEPOSITORIES OF PUBLIC FUNDS AND LEGAL COMPLIANCE MANUAL DEPOSITORIES OF PUBLIC FUNDS AND Introduction A government entity that receives and disburses funds may deposit the funds only in financial institutions
More informationTax update Important information to prepare your tax return. Included in this edition, tax information for the DWS funds
00219348 2019 Tax update 2018 Important information to prepare your tax return Included in this edition, tax information for the DWS funds Tax-exempt income notes Percentage of 2018 tax-exempt income by
More informationFEDERAL HOME LOAN BANKS
FEDERAL HOME LOAN BANKS Quarterly Combined Financial Report For the Six Months Ended 2008 This Combined Financial Report provides financial information on the Federal Home Loan Banks. Investors should
More informationNATIONAL BANK OF THE REPUBLIC OF MACEDONIA
NATIONAL BANK OF THE REPUBLIC OF MACEDONIA Pursuant to Article 64 paragraph 1 item 22 of the Law on the National Bank of the Republic of Macedonia ( Official Gazette of the Republic of Macedonia No. 3/2002,
More informationEagle Sweep Disclosure
Eagle Sweep Disclosure EFFECTIVE MAY 2018 FIRST REPUBLIC SECURITIES IS A WHOLLY-OWNED SUBSIDIARY OF FIRST REPUBLIC BANK. MEMBER FINRA/SIPC Eagle Sweep Disclosure Effective May 2018 Table of Contents Eagle
More informationRutgers, The State University of New Jersey Debt Policy May 2006 FINAL
Rutgers, The State New Jersey Debt Policy May 2006 FINAL Table of Contents I. Overview... 2 II. Scope and Objectives... 2 III. Oversight... 3 IV. Strategic Debt Allocation...... 4 V. Debt Affordability
More informationCOMMONWEALTH OF PENNSYLVANIA DEFERRED COMPENSATION PROGRAM. Financial Statements. December 31, 2011 and 2010
Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Management s Discussion and Analysis 2 Financial Statements: Statements of Net Assets
More informationNEW FEDERAL LAW COULD WORSEN STATE BUDGET PROBLEMS States Can Protect Revenues by Decoupling By Nicholas Johnson
820 First Street NE, Suite 510 Washington, DC 20002 Tel: 202-408-1080 Fax: 202-408-1056 center@cbpp.org www.cbpp.org Revised February 28, 2008 NEW FEDERAL LAW COULD WORSEN STATE BUDGET PROBLEMS States
More informationTax update 2017 Important information to prepare your tax return
00202053 Tax update 2017 Important information to prepare your tax return Included in this edition, tax information for the Deutsche funds Tax-exempt income notes Percentage of 2017 tax-exempt income by
More informationMunicipal Bond Basics
Weller Group LLC Timothy Weller, CFP CERTIFIED FINANCIAL PLANNER 6206 Slocum Road Ontario, NY 14519 315-524-8000 tim@wellergroupllc.com www.wellergroupllc.com Municipal Bond Basics March 06, 2016 Page
More informationTaxable/Exempt Interest Income and Private Activity Bond Interest Percentage Page 7
Year-End Tax Tables This document contains general information to assist you in completing your 2017 tax returns. You should consult your tax advisor to determine the appropriate use of these tables. This
More informationPENNSYLVANIA SCHOOL DISTRICT LIQUID ASSET FUND
PENNSYLVANIA SCHOOL DISTRICT LIQUID ASSET FUND INFORMATION STATEMENT October 1, 2015 A Comprehensive Cash Management Program founded and controlled by Pennsylvania public school entities. This booklet
More informationFederated Government Reserves Fund
Prospectus September 30, 2017 Share Class A B C F P Ticker GRAXX GRBXX GRCXX GRGXX GRFXX The information contained herein relates to all classes of the Fund s Shares, as listed above, unless otherwise
More informationThe Seaview RED Group at Morgan Stanley
The Seaview RED Group at Morgan Stanley 2400 East Commercial Blvd. 12th Floor, Ft. Lauderdale, FL 33308 954-267-5631 / Main Robert.Lavin@morganstanley.com The Seaview RED Group at Morgan Stanley Institutional
More informationInstructions for Requesting a Custodial Letter of Credit
Instructions for Requesting a Custodial Letter of Credit The forms in this document may be printed and completed, or you may complete them in Adobe Acrobat Reader: Select the hand tool. Position the pointer
More informationFederal Home Loan Banks
CREDIT OPINION Federal Home Loan Banks Semiannual Update Update Summary Rating Rationale The Federal Home Loan Bank System's (FHLBank System or FHLBank) Aaa long term rating and Prime-1 short-term deposit
More informationSpecial Report of the TriBar Opinion Committee Opinions on Secondary Sales of Securities
Special Report of the TriBar Opinion Committee Opinions on Secondary Sales of Securities By the TriBar Opinion Committee * TABLE OF CONTENTS 1. Scope of Report...626 1.1. Introduction...626 1.2. Summary
More informationSECTION 1: LEGISLATIVE AND REGULATORY AUTHORITY INVESTMENTS
SECTION 1: LEGISLATIVE AND REGULATORY AUTHORITY INVESTMENTS The Municipal Act as well as a number of Ontario regulations govern municipal investments. The following provides the specific references that
More informationThe purpose of this policy is to establish guidelines for the investment of education district funds.
GOODHUE COUNTY EDUCATION DISTRICT #6051 80 INVESTMENT POLICY ADOPTED: MARCH 21, 2013 REVISED: Purpose: The purpose of this policy is to establish guidelines for the investment of education district funds.
More informationFEDERAL HOME LOAN BANKS
FEDERAL HOME LOAN BANKS 2007 COMBINED FINANCIAL REPORT This Combined Financial Report provides financial information on the Federal Home Loan Banks. Investors should use this Combined Financial Report,
More informationFEDERAL HOME LOAN BANKS
FEDERAL HOME LOAN BANKS Combined Financial Report for the Quarterly Period Ended September 30, 2014 This Combined Financial Report provides financial information on the Federal Home Loan Banks. Investors
More informationM&T Bank Corporation Announces First Quarter Results
April 18, 2016 M&T Bank Corporation Announces First Quarter Results BUFFALO, N.Y., April 18, 2016 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) today reported its results of operations for the
More informationMETROPOLITAN WASHINGTON AIRPORTS AUTHORITY INVESTMENT POLICY September 18, 2018
1.0 Scope METROPOLITAN WASHINGTON AIRPORTS AUTHORITY INVESTMENT POLICY September 18, 2018 This Investment Policy applies to the investment activities of the Metropolitan Washington Airports Authority,
More informationCITY OF LOS ANGELES RESPONSIBLE BANKING INVESTMENT MONITORING PROGRAM FOR COMMERCIAL BANKS Reporting Calendar Year: 2016
CITY OF LOS ANGELES RESPONSIBLE BANKING INVESTMENT MONITORING PROGRAM FOR COMMERCIAL BANKS Reporting Calendar Year: 2016 Commercial banks providing City banking business or seeking City banking business
More informationGenerating Current Income
Oppenheimer & Co. Inc. Craig Chapman, CFP Director-Investments, Financial Advisor 14636 N. Scottsdale Road Suite 175 Scottsdale, AZ 85254 480-596-1512 craig.chapman@opco.com http://fa.opco.com/craig.chapman/
More informationDOERNBECHER CHILDREN S HOSPITAL FOUNDATION (A Component Unit of Oregon Health & Science University)
Financial Statements and Required Supplementary Information (With Independent Auditors Report Thereon) KPMG LLP Suite 3800 1300 South West Fifth Avenue Portland, OR 97201 Independent Auditors Report The
More informationProtection of Public Deposits
Protection of Public Deposits Connecticut Government Finance Officers Association Quarterly Meeting February 5, 2009 Rocky Hill Marriott Tony Conway, Assistant Director, Department of Banking Agenda Introduction
More informationAllstate Life Insurance Group Combined Management Discussion and Analysis For the Year Ended December 31, 2011
NAIC Group Code 0008 NAIC Company Code 60186 Employer s ID Number 36-2554642 Allstate Life Insurance Group Combined Management Discussion and Analysis For the Year Ended December 31, 2011 The Allstate
More informationSECTION 109 HOST STATE LOAN-TO-DEPOSIT RATIOS. The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance
SECTION 109 HOST STATE LOAN-TO-DEPOSIT RATIOS The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (the agencies)
More informationMaximizing the Value of Your FHLBank Atlanta Cooperative
Maximizing the Value of Your FHLBank Atlanta Cooperative November 18, 2015 Scott Brennan Director of Sales Rob Kovach Chief Credit Officer Disclaimer The information, analysis, and applications contained
More informationCOMMONWEALTH OF PENNSYLVANIA DEFERRED COMPENSATION PROGRAM. December 31, 2014 and 2013
Financial Statements with Required Supplementary Information (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Management s Discussion and Analysis (unaudited)
More informationProtect tomorrow and embrace today
Principal Universal Life Flex II SM Protect tomorrow and embrace today BB9782-10 Protect your family or business The death benefit 1 provided through life insurance provides reassurance that when you pass
More informationRevenue and Investments 4.30
OPERATIONAL SERVICES Revenue The Superintendent or designee is responsible for making all claims for property tax revenue, State Aid, special State funds for specific programs, federal funds, and categorical
More informationCash Sweep Program Disclosure Statement
Summary Please consult the full text of the disclosure statement below for further information at the pages indicated. How the Cash Sweep Program Works Available Sweep Options Our Cash Sweep Program allows
More informationThe Unemployment Trust Fund (UTF): State Insolvency and Federal Loans to States
Cornell University ILR School DigitalCommons@ILR Federal Publications Key Workplace Documents 1-12-2010 The Unemployment Trust Fund (UTF): State Insolvency and Federal Loans to States Julie M. Whittaker
More information