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1997 10 08 IAB4 78-495 CALLE TAMPICO - LA QUINTA, CALIFORNIA 92253 - (760) 777-7000 FAX (760) 777-7701 TDD (760) 777-1227 AGENDA INVESTMENT ADVISORY BOARD Study Session Room 78-495 Calle Tampico- La Quinta, CA 92253 October 8, 1997 - 5:30 P.M. I CALL TO ORDER a. Pledge of Allegiance b. Roll Call II CONFIRMATION OF AGENDA III PUBLIC COMMENT - (This is the time set aside for public comment on any matter not scheduled on the agenda.) IV CONSENT CALENDAR A. Approval of Minutes of Meeting on September 10, 1997 for the Investment Advisory Board V BUSINESS SESSION A. Transmittal of Treasury Report for August, 1997 B. Investment Plan VI CORRESPONDENCE AND WRITTEN MATERIAL A. Month End Cash Report - September. 1997 B. Pooled Money Investment Board Reports - June 1997 VII BOARD MEMBER ITEMS A. Next Meeting Date VIII ADJOURNMENT MAILING ADDRESS — P.O. BOX 1504 — LA QUINTA, CALIFORNIA 92253 �� La�� •c9 0 oZ U � `y OF TNT INVESTMENT ADVISORY BOARD October 8, 1997 BUSINESS SESSION A ITEM TITLE: Transmittal of Treasury Report for August 31, 1997 BACKGROUND: Attached please find the Treasury Report for August 31, 1997. Based on discussions at the prior Investment Advisory Board meeting the Cash Flow report has been modified to show short term liquidity projections. RECOMMENDATION: Review, Receive and File the Treasury Report of August 31, 1997. hn M. Falconer, Finance Director TO: FROM: SUBJECT: DATE: T a 0 4hf 4 4 a" MEMORANDUM La Quinta City Council John Falconer, Finance Director/Treasurer Treasurer's Report for August 31, 1997 October 2, 1997 Attached is the Treasurer's Report for the month ending August 31, 1997. This report is submitted to the City Council each month after a reconciliation of accounts is accomplished by the Finance Department. Cash and Investments: Increase of $815,043. due to the net effect of revenues in excess of expenditures. State Pool: Decrease of $3,350,000. due to the net effect of transfers to and from the cash and investment accounts. U.S. Treasury Bills, Notes and Securities: Increase of $16,424. due to the increase of the amortized value of the investments. Mutual Funds: Increase of $2,916,567. due to the net effect of transfers for debt service payments and interest earned. Total increase in cash balances $398,034. I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code; and is in conformity with the City Investment policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. The City of La Quinta used the Wall Street Journal, First Trust of California Monthly Statement and Wells Fargo Monthly Custodian Report to determine the fair market value of investments at month end. Johh M. Falconer 1 FirOnce Director/Treasurer 1012--1?7 ye 0? E 7 E X E N w O t5 N .o 7 N w C N N O c w 0 N C N O E o � W w m C N N C 2•a o •o Na V m E 3 c m a`> n 7 E m8 r c t � N C 0 C Z C Z C Z C Z C Z Z Z Z Z W O N N o� C E Lc) SA o y y 60 to CY c 0 a o �' m i3 mow= v _c U U 0.o vOi U 0 0 Q m� U LL LL cc c `0 c m aNi af°i 0 0 c m v m m N N Z N N ami N m (D N V . 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NM O O CCD N o}C^O 0)" u) 0) ,} W W V! e•}tO0 C0OQ C'4 M ON H M tEf N Q Q O Q y 7 lA MN�p U) 7 {L'j y 0) M CO N NCl) }CO BCD Np�pepp- }010) N e'}�O006 M (9 K M CO t0 4i NIA to 3 10 IkE 'n 00 > •I L > W Q LL 2. ;a v 5U,n L 0 fA CITY OF LA QUINTA CITY CITY RDA RDA FA BALANCE SHEET 08/31/97 FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL ASSETS: POOLED CASH (44,366.85) 5,908,679.77 5,864,312.92 LQRP INVESTMENT IN POOLED CASH 410,000.00 410,000.00 INVESTMENT T-BILL/NOTES & OTHER 15,000,000.00 15,000,000.00 LQRP CASH 22,376.68 22,376.68 BOND REDEMPTION CASH 3,280,994.18 424.24 3,281,418.42 BOND RESERVE CASH 516,495.03 516,495.03 BOND PROJECT CASH 11,244,996.84 743,953.31 11,988,950.15 BOND ESCROW CASH 2,599.62 2,599.62 PETTY CASH 1,460.34 1,460.34 CASH & INVESTMENT TOTAL 14,957,093.49 21,386,142.12 744,377.55 37,087,613.16 INVESTMENT IN LAND HELD FOR RESALE 86,319.85 86,319.85 ACCOUNTS RECEIVABLE 30,944.59 63,300.23 94,244.82 PREMIUM/DISCOUNT ON INVESTMENT (25,735.01) (34,549.14) (60,284.15) LQRP-ACCOUNTS RECEIVABLE 15,100.70 15,100.70 INTEREST RECEIVABLE 2,383.33 2,383.33 LOAN/NOTES RECEIVABLE 2,560,500.03 2,560,500.03 DUE FROM OTHER AGENCIES DUE FROM OTHER GOVERNMENTS DUE FROM OTHER FUNDS 1,470.00 551,038.04 552,508.04 DUE FROM RDA 6,890,277.20 6,890,277.20 INTEREST ADVANCE -DUE FROM RDA 1,344,792.68 1,344,792.68 NSF CHECKS RECEIVABLE 577.95 577.95 ACCRUED REVENUE 43,874.22 43,874.22 TRAVEL ADVANCES 1,490.00 1,490.00 EMPLOYEE ADVANCES PREPAID EXPENSES RECEIVABLE TOTAL 8,246,200.74 3,199,264.08 11,445,464.82 WORKER COMPENSATION DEPOSIT 37,637.00 37,637.00 RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2,100.00 2,100.00 DEPOSITS TOTAL 39,812.00 39,812.00 GENERAL FIXED ASSETS 628,720.00 15,011,800.00 11,438,745.05 27,079,285.05 ACCUMULATED DEPRECIATION (46,543.96) (46,543.96) AMOUNT AVAILABLE TO RETIRE L/T DEBT 2,340,653.00 2,340,653.00 AMOUNT TO BE PROVIDED FOR L/T DEBT 350,653.00 90,834,891.96 8,790,000.00 99,975,544.96 TOTAL OTHER ASSETS 582,176.04 15,011,800.00 350,653.00 11,438,745.05 93,175,544.96 8,790,000.00 129,348,919.05 TOTAL ASSETS 23 825 282.27 15 011 800.00 350 653.00 24 671 726.05 11 438 745.05 93,175,544.96 744 377.55 8,790,000.06 178,008 128.88 LIABILITY ACCOUNTS PAYABLE 716,616.85 (28,065.19) 688,551.66 DUE TO OTHER AGENCIES 49,094.72 49,094.72 DUE TO OTHER FUNDS 551,038.04 1,470.00 552,508.04 INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES 16,002.83 16,002.83 STRONG MOTION INSTRUMENTS 4,476.97 4,476.97 FRINGE TOED LIZARD FEES (9,004.24) (9,004.24) SUSPENSE (209.76) (209.76) DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 776,977.37 522,972.85 1,470.00 1,301,420.22 ENGINEERING TRUST DEPOSITS 88,702.02 88,702.02 SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 181,888.16 181,888.16 LQRP DEPOSITS 13,686.00 13,686.00 DEVELOPER DEPOSITS 998,205.10 998,205.10 MISC. DEPOSITS 160,759.48 160,759.48 AGENCY FUND DEPOSITS 730,235.54 730,235.54 TOTAL DEPOSITS 2,159,790.30 13,686.00 2,173,476.30 DEFERRED REVENUE OTHER LIABILITIES TOTAL COMPENSATED ABSENCES PAYABLE 350,653.00 350,653.00 DUE TO THE CITY OF LA QUINTA 8,235,071.09 8,235,071.09 DUE TO COUNTY OF RIVERSIDE 12,320,655.87 12,320,655.87 DUE TO C.V. UNIFIED SCHOOL DIST. 11,270,808.00 11,270,808.00 DUE TO DESERT SANDS SCHOOL DIST. 569,010.00 569,010.00 BONDS PAYABLE 60,780,000.00 8,790,000.00 69,570,000.00 TOTAL LONG TERM DEBT 350,653.00 93,175,544.96 8,790,000.00 102,316,197.96 TOTAL LIABILITY 2,936,767.67 350,653.00 536,658.85 93,175,544.96 1,470.00 8,790,000.00 105,791,094.48 EQUITY -FUND BALANCE 20,888,514.60 15,011,800.00 24,135,067.20 11,438,745.05 742,907.55 72,217,034.40 TOTAL LIABILITY & EQUITY 23 825 282.27 15 011 800.00 350 653.00 24 671 726.05 11,438,745.05 93,175,544.96 744 377.55 8,790,000.00 178 008 128.88 T 0 oz U ry 4_ -: it• �jr.jw �`�• OF TNT INVESTMENT ADVISORY BOARD Business Session Item B Meeting Date: October 8, 1997 TITLE: Investment Plan (Please bring your prior months Staff Report to the October 8, 1997 meeting) September 8, 1997 The purpose of this report is to begin the process to develop an investment plan for the City of La Quinta. The formulation of an investment plan is an important part of the Treasurer's responsibility. A plan allows for a systematic approach in the investment of public funds. The Investment Plan is governed for the most part by the Investment Policies and by the cash flow needs of the organization. Important Investment Policy elements that need to be considered include the following: • Primary Objective in order of priority 1) Safety; 2) Liquidity and 3) Yield. • Securities shall not be sold prior to maturity except to meet liquidity needs or to minimize the loss of principal. • Investments are not to be made based upon speculation, but for Investment Policies. • Investments may be made only in authorized investments listed in the Investment Policies subject to certain maximum limits. • The benchmark for the rate of return is the six-month Treasury Rate. • The maximum term of an investment is two years. Important Cash Flow elements include: • The City business cycle of cash receipts and cash disbursements. • Schedule of maturing investments. • Unforeseen cash requirements of the City. Safety The Authorized investments and credit quality is listed on Attachment A. GRAPHS - (Attachment B) The following three graphs of cash and investments report the results of FY 1996/97. No significant changes in the administrative budget are foreseen for FY 1997/98. The capital projects budget however has increased significantly as can be seen by the various construction activities occurring in the City. The fourth graph reports the current interest rate market. The first of four graphs report all the cash and investments. The cash balances fluctuated between 40 million and 32 million dollars. The first six months of the fiscal year see a net outflow of funds to the City. This is primarily due to large debt service and pass through payments and partly due to a reduction in revenues (T.O.T.). The second six months are stronger due to increased T.O.T. and property tax payments received in January and May. Also, the second half of debt service payments only have interest amounts due. The second graph is related to the first chart and shows the monthly increases and decreases in more detail. As indicated the City had four months of increases and eight months of decreases in cash. The increases were more significant (due to property tax and related receipts) than the decreases. The third graph details the cash and investment into three types: fiscal agent, LAIF, Pooled excluding LAIF. The fiscal agent cash is for construction activities and has only decreased two million during FY 96/97. This was mainly for the Washington/Hwy 1 1 1 intersection. In FY 97/98 the vast majority of these funds are for Low & Moderate Income Projects. The Pooled cash (excluding LAIF) line increased from 10 million to 15 million which followed staffs intent to diversify the portfolio. LAIF began the year at 14 million and ended the year at 12 million. During the course of the year, LAIF trailed down during the first six months seven million dollars which represented the outflow for disbursements. It then increased four million with the property tax payment in January, then decreased by three million for debt service and pass through payments in February. In May, LAIF increased six million from seven million to thirteen million. 09 The fourth graph sets forth the current interest rate environment. While the investment policy only allows for a maximum maturity of two years five year data is presented. Strategy The current investment plan has been to identify the amount of funds that will not be required for at least two years and invest these funds in Government Agency paper. $2,000,000 FNMA Maturity 4/1 1 /99 YTM 6.41 % The next step is to ensure that funds are available in August to meet the debt service requirements. $5,000,000 T-Note Maturity 7/31 /98 YTM 5.61 % The next step is to review the cash flow report and invest as far out in the yield curve as deemed appropriate. $3,000,000 T-Note Maturity 1 /31 /98 YTM 5.87 % $5,000,000 FHLB maturity 7/07/98 YTM 5.72 % The next step is to invest funds in US Treasury funds to meet daily cash needs i.e. payroll, accounts payable. US Treasury Money Market Excess funds are invested in Local Agency Investment Fund (LAIF) with daily liquidity. Commercial paper has not been used to date as a temporary investment vehicle. October 8, 1997 Attached please find a cash flow projection worksheet for FY 1997/98 (Attachment No. 1) and the use of a worksheet for commercial paper in February and June 1998 (Attachment No. 2). Recommendation Provide Staff with direction. 4ohn Falconer Finance Director AN ATTACHMENT NO. 1 I OO S � n N ^ S C`� °D S 0 a'f (o INOr- 4 in e- O N�(n0C0o O p tl0 � S °�U�� (O ti IA M (O 00 Lf)Mr-a N •- O f - CO r�M N W N (pN S�OMCei nvlgpny O M M M10 I'9 01 M > � Q (0 ")Sh(p� (O N 46 04 C�O�p M 10 0; Min C P M NC7 W N (ry���('7 1p,- W pp1N M N N 'fir 8QQin 0) aM 00(O "in SINAO S(! f�00O (D N00 O P �Nq O on �GDm� �pOp(O�� OOO CC') A N� 1 N IOA(1)(nDOOi.� N v Lf) N�NM P C9 O N Os N P N� P N I N pQ �: cp OG�t to P Obit': (�+ t00 O0 (0 Csee�� ((�S(Dtf) M a; N�n ��Qp Gm tP� P n NM C0 lh f0 ~ V) ppp N ��pp cuI��pps N I- V• OD CD (O O! onh to N to to N OD Mcss��ON to/^p� p V)P -(NV-NN Cl) r•Ip MR NM N N N NN P N '.�Q N OD pp CD tjj80�p n t8 p- n vt°i u�00 0 (moo P (o (`' aD �M -8 N (nON9(((�+O� N (O MNN�O�pp)�O V -;: II n (O N 10 -co M IffA � O MM P npppp_O ON SO(°StA n (_Q N n0�� Oat of ti t0 �A M N th N nN(00(y QN•-VP to M O - lA O NCOD �N110 M�MN N (Opp er (OppN of M N N ^o ��ornc ((ir- M N M P N ti P M P N � A 40 W O O (O w O O P^ �O �(�(�iP 0 IA �• O> tj (h aOSnv�a� .0 V M P O► o_ m (o Wn (p9- N P P c n� in �pp25a0N CD n�r0 O W to N t- V V m ON ��(pO `_Sa0(O.1 e� O Nc6m CNO0001 (app V a0 40 �O M r N P M C! OW-)N O co O (O to ob n OO�OMaD co N 60 N SN NpOpOMO AN M P 7(O 4VM nH �p CD (nS�n paOO^� �(��ppN�n (OOf01V�4 $N•N N n a M nN (� M �(�p (ep� 1-NN NOOOCOOCOMClt "IN N � U aI, Cl) (n a0D( 1-7 1.. M =!I C r @ N m @ T C a .1 a7 roCK m oli H b .N. �N, .U) ° C ' u m x .m w c . 7 H °nt IC `� - CQ C @ C J DO m C C COO)H C.1 y m N N h tlm1 m CL c m f- c a m g N m E ._ C y jc g g js ' j bj CD m m O; @ c C �0 m > c'� > •C N H `m In d� o° m°e Q �a Z C '0 m> m m x W C c °0000� m ym� m m m" m m m N W W y ,Jr• lL °.0 N} c m m 0 W 2« f0 (� m �(�` mp m t! m L@ -i !0 c c m m m m m C C C C UUtL m CO a1-(o0� @ m m u�CA�000E- 0 m 2HH�` �- O n ti N O 2 N C) n N n O M O N Ch W O O Cl) OD U) O O O CD ' O O N N M 0 ODD u49 O d Q N N Cl) a � u ci h Y. .0 V W V "2 U U N c 9 � O N 8' O h ID $ m a m C d o U, t � �m m .N m E m �'@Eo m� 32 °o p 4) C v,i O O a2yy O m V •c C►� C(jj mUN 04 ATTACHMENT NO. 2 cn v c c� cu m co cuU C LL c� g i N U U U�0 U 000NI�-OMr- M I` cu OVMNOr-V�ON� U- m N r- O I` O Ln N r- V O M r- O M C6 N O m r- 00 N CO _tm MM r,`OOp�0t1) L d' .;i N r- L CO CO CO CO r, C W o 00 a� CL 0 0 0 0 00 0 00 U � cu r-00NI`OMr-C'7�I` LLm O» 00 N O r- V r- O N `- Cl r-OI`OIoNr-�I'CDM r- OM(ONOVr-wm J J O I`U)Or-(DV0)U)04 C ooMV-I`co(D(DV)v u V V N r- CEO CO CO C6 C) w M co.-. �-. r- V)CDMLo0ON00NcM LL to CV M Oo CD t O I` r- t` M 04CCooCn J.�C NCD0O0'T00L VMU')1" NOLO titi[`�tiMMMcc) MO OO�OCAC�000000 O O Q > V ' C .Q C <w0z0-.)wQ�� 10/02/97 THU 11:45 FAX 714 721 9542 lib003 Page 99 <GO> for Administrator. D W R INST MONEY MARKETS (D W R M M) Last Update; 10/02/97 11:31 7,961 DLL CAPITAL 10/6 @5.65 (L) 1MM ILL =L WORK 10/7 05.50 (L) 21, 820M BELLSOUTH CAP FD 10/8 @5.45 (F) 8,737M GREMiTREE FINANCIAL 10/9 05.70 (L) 6.5MM GOTH M Fv ING 10/10 @5.56 (L) 16MM AMERICAN FAMILY FINCL SVCS 10/15 05.51 (L) 7MM CSX CORP 10/15 05.70 (L) 37,806M NMHELP CAP SERV 10/15 05.50 (F) 4MM GENERAL MTRS ACCEPTANCE 10/17 05.52 (L) 4,675M RICOH FIN CORD 10/20 @5.65 28MMMINK MNG MPG 10/20 Q5.44 2,570M SHARP ELEC CORD 10/24 @5.48 51026M GO'I`H M FUNDING 10/27 ®5 .56 (L) 11,133 NEBRASKA HIGH ED 10/31 ®5.53 (F) MSg : P . MCGOWA'N PAGE 2 OF 10 Al/P2/DI/Fl Al+/P1 Al+/Pl A2/P2 Al/pi Loc BOTM Al+/P1 A2/P2 Al+/P1 A2/P1 A2/P2 Al+/P1 Al/P1 A1/P1 LOC BOTM A1+/P1 LOC SLMA Bloomberg -all righs a reserved. Frankfurt :sg-920410 along Kong:2-521-3000 London:l72-330-7500 New York :212.318-2000 Princeton:609-219-3000 9ingapore:226.3000 Sydney:2-9777-0600 Tokyo:3-3201-eg00 Sao Pau10:11-3049-4800 (3165-106-1 02-Oct-97 14:41:13 10/02/97 THU 11:46 FAX 714 721 9542 Q 004 Paige 99 <GO> for Administrator. DWR INST MONEY MARKETS Last Update: 10/02/97 11:30 4,690M TUPPERWARE CORP 11/6 @5.68 (F) 2M COLONIAL PIPELINE 11/17 05.50 (L) 24MM BANNER RECEIVABLES 11/19 @5.56 (L) 34, 960M 0SX CdR.P 11/24 05. 64 4MM JP MORGAN 12 /5 05 - 47 (L) 30, 250M AE'INA, SERzTICES 12/11 @5.45 25MK HERTZ CORP 1/15-3/31 05.48 29r685M DIAMLER BENZ 2/20 05.48 Muni M S (3 i DWRMM ) PAM 3 OF 10 A2/P2 Al+/Pl Al/Pl LOC noTm A2/P2 Al+/Pj. Al/Pl Al/P1 Al/Pl "'00d erg -all rights reserved- FrAnkf= M-920410 Hong K*ng:2-921-3000 London:174-330-7900 Ned York:212-318-3000 Princeton:609-279-3000 51ngapare:226-3000 Sycney:2-9777-0600 Tdkyo:3-3201-89oo Sea Pau10e11-304e-4500 0183-186-1 02-Oct-97 16:41,14 ')I,A� W iTTGIv 7 OCT 02 '97 11:36,.AM SMITH-BARNEY NB Page 2 Page 1 size W 0 4,653 2) 11576 1,677 e> 4,380 5) 15,387 Et 21,590 7) 13,000 ai 23,232 9) 3,373 10) 1, 813 11) 1,101 12) 5,403 13) 2,274 14) 4,496 15) 10,204 161 81500 17 ) 2,512 16) 3,352 i19) 14,200 20) 2,413 1� 2y 20,345 3) 17,419 4) 1,051 5) 10000 61 7,999 7) 11363 SMITK aARNA'Y _Maturity 8D Dieco=t 11/21 5.750 11/24 5.720 12/01 5.540 12/01 5.534 12/02 5.540 12/02 5.540 " 12/04 5.550 12/08 5.540 d:. 12/08 5.550 12/11 5.550 12/15 5.540 12/16 5.540 12/16 5.580 12/16 5.55o 12/18 5.540 12/18 5.580 12/18 5.550 v: 12/19 5.600 E, ., 12 19 5.550 ;• 12/22 . 5.540 I! 12/23 5.530 kv 01/15 5.580 02/18 5.570 e 03/25 5.560 03/31 5.580 D061 a Equity 9 M C P Yield Page 3 of 4 5.580 A-1 P-1 4.2 5.796 A-2 P-2 3a3 5.769 A-2 P-2 3a3 5.592 A- 1+ P-1 4.2 5.581 A-l+ NR 4.2 5.592 A-l+ NR 4.2 5.592 A-1 P-1 4.2 5.604 A-1 P-1 4.2 5.598 A-1+ P-1 4.2 5.608 A-1 P-1 4.2 5.611 A-1 P-1 4.2 5,604 A-1 P-1 4.2 5.605 A -I+ P-1 4.2 5.646 A-1 P-1 3a2 5.615 A-1 P-1 4.2 5.606 A-1+ NR 4.2 5.647 A-1 P-1 4.2 5.617 A-1 P-1 4.2 5.669 A-1+ P-1 4.2 5.618 A-1 P-1 4.2 A- + - .-47T 5.610 A-1+ P-1 4.2 5.601 A -I+ NR 4.2 5.672 A-1 P-1 4.2 5.692 A-1+ P-1 3a2 5.714 A-1 P-1 4.2 5.740 A-1 P-1 4.2 Bloomberg -all rights reserved. Frankfurtt69-920410 Hong xong:2-521-3000 Loridon!171-330-7500 New York:212-318-2000 Princeton:609-279 3000 Singapgre:226-3000 Sydney;2-1717 4600 Tokyo:3-3201.6900 Sao Paulo:11-3048-4500 4161 517.1 02-Oct-97 14:32:55 "All offerings are v 9 subiect to change in p�iCe M l ..��� � �� � � Ian�ior availability" . M-Mkt ML . Meg: F . CONSTABLE Eater # <yellow key> to select security or <PAGIL COMMERCIAL PAPER OFFERINGS Page 1 of 9 MATURITY RJV.110E: 59 TO 256 DAYS, 1.1/30/97 TO 6/15/98 WRITE TO ORD.SR TICKER RATJ= SIZE SD E TURITY RATIO YX= EX VATES/NOTES 1) UPS BE AI+Pl 50Mwi 10/03-12/30 5.38 .5.45 2) BFC4 BE Al P1 5510M 12/01-12/12 5.51 5.57 3) COKE BE A1+P1 25MH 11/24-12/16 5.44 5.50 NO 1/14, 11/5 12/22-12/26 5.43 5.50 NO 1/14, 1.1/5 1/12- 1/16 5.47 5.56 NO 1/14, 11/5 4 ) GRACE CP A2 P3 15mm 60 DAYS 5.75 5.81 s) HART4 BE A1+P1 2490M 12/01-12/02 5.52 5.57 6) HONDA BE A2P1F1 30M 11/03-12/12 5.56 5.62 NO 11/7, 11/28 7) BAF BE A1+p1 50NM 12/01-12/05 5.48 5.53 1/05- 1109 S-so 5.58 $) ML BE A1+P1 79531M 12/01-12/15 5.51 5.57 8) ATCORP 8E A1+P1 10mm 12/01-12/17 5.44 5.50 NO 2/2, 3/16 1/02- 1/16 5.45 5.54 NO 2/2, 3/16 1/20- 2/13 5.45 5.56 NO 2/2, 3/16 2/17- 3/17 5.46 5.60 NO 2/2, 3/16 3/18- 4/16 5.46 5.63 NO 2/2, 3/16 1a) HART4 BE A-1+P1 2273M 12/01-12/16 5.52 5.58 1/05- 1/16 5.54 5.63 11) TCF4 BE A1+P1 50MM 1 1/05- 1/30 5.54 5.64 Bloomberg -ail PrincetOA1604•279-3000 rights reserved. Frankfurtsdi-$30410 Hoag xong13-s21-3000 Singapores22d-3000 sydney:2-9777-8600 landons171-330-7800 New YorX1212-31S-2000 Tokyo:3-3201-8900 Sao Paulo:11.3048-4500 G161-453-10 02-OCt-97 15r26:13 �EKQILC L��/c!-I' 10 OCT 02 '97 11:36.AM SMITH-BARNEY NB Page 1 a SMITHMNL'Y WMNM C. MackwNl 880 Newport CGnw Ur Sutr 1100 NLw purl ftwh, CA 02860 714-717-5440 / 714-717-5449 Fax 1 Size (M) BMITH BARNEY Katurit HD DI NCCunt Yield A0u-2t a•eee.3ua 3 3,034 '< 10 3 5.500 5.5 4. 10/08 5.600 5.605 A-2 P-2 3a3 if 3,708 ': 10/09 5.530 5.536 A -I P-1 4.2 P 4) 3,00910/09 5.510 5.516 A-1 P-1 4.2 51 3,027 10/14 5.560 5.570 A-1+ NR 4.2 6) 2,000:�;:;:` 10/14 5.510 5.520 A-1 P-1 3a3 17) 41799 1►:? 10/14 5.610 5.621 A-2 P-2 3a3 a f 7o,906 = 10/15 5.550 5.561 A- 1 P-1 4.2 >.V .: a: 191 2,957 :...;..•n:..,::;d.: :"' 10/15 5.750 5.762 A-2 P-�2 3a3 ;:: 10/17 5.750 5.764 A-2 P-2 3a3 11) 41077 10/20 5.560 5.575 A-1+ NR 4.2 >.8.:,:.;:;....,, ...,.A::•10/20 5.550 5.565 A-1 P-1 4.2 13) go 00 10/24 5.530 5.549 A-1+ NR CP h j " 147 19,000 � : 10/24 51510 5.529 A-1 P-1 3a3 10/27 5.540 5.561 A-1+ P-1 4 16) 621,182 10f 27 5.560 5.562 A-1+ NR 4.2 17) 4,565 10/27 5.560 5.582 A-1 P-1 3a3 1e 1 815 o-: } .:� .10/27 5.560 .2 �•�. 10/27 5.550 5.5?1 A-1 P-1 4.2 19) 2,077 20�... 4,564 10 28 5.540 5.562 A-1+ P-1 4.2 if 4,100 ;: - - 2) 41991 := 10/29 5.650 5.674 A-1+ P-1 4.2 3) 10,314 : 10/31 5.540 5.565 A-1+ P-1 4.2 "'" 5.588 4) 20, OOQ / A 1 P 1 3a3 i.i.11 03 5.63 0 5 s� 24 ,193 {%;'%[ �`1 >. ;<;::r,-.:.<:n;::� / 5.658 A-2 P-2 3a3 6) 5,640 "W;4 11/04 5.530 5.558 A-1+ P-1 4.2 7 50,000 �`. �' 11/04 5.510 5.538 A-1+ P-1 3a3 6,605 11/04 5.540 5.568 A-1 P-1 4.2 Y 21,100 ;:.. 11/04-11/21 1 6.000 6.032-6.049 A-2 P-2 9.2 10) 20,1OQ ' :< `; 17.f 05 4 5.540 5. 566 A-1+ NTt 9.2 -q..�.......> 11) 6,426 ! 11 /10 5.550 5.584 A-1+ NR 4.2 12) 17,099 n, it 11/10 5.530 5.563 A-1 P-1 4.2 13) 5 190 - 11/10 5.610 5.644 A-2 P-1 4.2 14) 2,779 .O •:::> :i:: :„ .. 11/12 5.560 5.595 A-1 P-1 3a2 1s] 1,193 P>P4, 11/12 5.750 5.788 A-2 P-2 4.2 16) 61978 i;: ., : 11/14 5.520 5,557 A-1+ P-1 3a2 11/17 5.530 5.569 A-1+ P-1 4.2 v. L•.v: yyv 4 : A. O I O < 18) 20978 " 11/17 5.550 5.590 A-1+ NR 4.2 19) 3,640 :' 11/17 5.540 5.579 A-1 P-1 4.2 sof 8 6875.630 5.671 A-Z P-2 3a3 woomlyerg-all right-& reserved. Frank;art:69-1)20410 Hong Konq:2-521-3000 London;l71-330-7$QQ Now York;212-318 2000 P:inCet:on:609.279 3000 fiingopore:226-3000 Sydney:2-9777-8600 Tokyo;3-3201-8900 Sd0 Pau10:11-3040.4500 C181-517-1 02-ttt:97 14;32:53 "All offerings are � S� subject to change in price and/or availability." Page M-Mkt M L Eater # <Yellow key> to select security or epAGEa 9 COMMERCIAL PAPER OFFERINGS Page 2 of MATURITY RANGE: 59 TO 256 DAYS, 11/30/97 TO 6/15/98 WRITS TO ORDER TICKER RATING SIZS 9D MATURITY RATE YISLp '�'ES SICCEPTT DATES/NOTES 1) ML BE A1+P1 99500M 1/05- 1/16 5.56 5.65 3)UMFD BE Al PI 25MM 1/05- 1/09 5.53 5.62 3) ML BE A1.+P1 100MM 1/13- 3/31 5.55 5.71 a) HIL7N4 BE A2P2D1 250M 1/29- 1/29 1.00 1.00 S+P/MDY/D+P ST+LT NEC C 5> UF$4 BE A1+P1 61160M 120 DAYS 5.52 5.62 180 DAYS 5.53 5.69 6) GRACE CP A2P3 imm 3/05- 3/05 1.00 1.00 UPGRADED 1 s NOW A2P3 ! ! ! 7) ML BE Al+Pl 100MM 4/01- 6/30 5.53 5.77 e) MONGO BE A1P1F1 250M 5/15- 5/15 1.00 1.01 MDYS/S+P'AND S+P LT N 91 AIGEN BE AJ.P1F1 250M 5/15- 5/15 1.00 1.01 MDYS/S+P ST+LT NW CIS W 1o) ALPWR BE A1P1F1 150M 5/15- 5/15 1.00 1.01 MDYS/S+P ST+LT NEsG CR W 11) P7 BE A1p1F1 150m 5/15- 5/15 1.00 1.01 MDYS/S+P ST+LT NEG CR W 12) WPENN BE A1P1F1 200M 5/15- 5/15 1.00 1.01 M[3Y'S/S+P ST+LT NEC CR W 13) DA.I LO A2 loom 5/20- 5/20 1.00 1.01 LTCS ON WATCH S&P MOODY 14) 4WIND4 BE A1+P1 im 6/ 11- 6/11 2.00 2.03 COMMZBA1r K ASSET -BACK PIECES FOR SALE TICKER RATIIiG SIZE SD NM DAYS RA= Y19M PIECES 15) BART4 BE A1+P1 3447M 12/01/97 60 5.52 5.57 lx3447M 16) IFCO BE Al Pi 114M 12/01/97 60 5.58 5.63 1x114M Bloomberg -all rights reserved, rranklurt,69-520410 Hong Kong:2-521-3000 L rA*n-X71-33a-7500 New York.21a-318-2000 Princetont609-279-3000 9ing*por*:226-3000 SVft*Y:2-9777-Y600 Tokyo:2-1201-6960 Sao Pau10:11-3040-as00 0162-453-1D 02-Oct-57 15:26:16 M6xp_j1.._L Leyluw-f- it, Page . M-Mkt M L Eater # <yu11ow key> to select Aecurity or <PAGE> COMMERCIAL PAPER, OFFERINGS Page 3 of 9 MATURITY RANGE: 59 TO 256 DAYS, 11/30/97 TO 6/15/98 P Y S C g S FOR SALE TICKER RATING SIZE SD WM DAYS RATE YIRM PIECES 1> IrM BE Al P1 114M 12/01/97 60 5.58 5.63 1x114M a) COURT4 BE A2P2D1 1012M 12/01/97 60 5.75 5.81 1x1012M 3) PAV4 AS A1+P1 35NM 12/01/97 60 5.52 5.57 3x5MM 20x1MM as EDC BE A1+P1 12/01/97 60 5.48 5.53 s) SAFECO BE A1P2D1 4MM 12/01/97 60 5.57 5,62 1x4MM c.) T)DF4 BE Pi F1 5NM 12/02/97 61 5.56 5.61 1x5M 7) CATS BE Al+1)1+ 500M 12/02/97 61 5.93 5.58 1x500M a) KZH34 BE Al P1 11367M 12/02/97 61 5.56 5.61 1x11357M 9) X MI4 BE Al P1 590M 12/03/97 62 5.56 5.61 1x590M 10) KZHS4 BE Al P1 683M 12/03/97 62 5.56 5.61 lx683M SAFECO BE A1P2D1 13NM 12/03/97 62 5.57 5.62 1x13M 12) KZMC4 BE Al P1 677M 12/03/97 62 5.56 5.61 jx677M 13) PETBRC BE A1+P1 4MM 12/03/97 62 5.52 5.57 1x4MM 14) PETBRD BE A1+P1 10MM 12/03/97 62 5.52 5.57 1x10MM �s) CATA BE Al+D1+ 150M 12/04/97 63 5.53 5.58 1x150M 16) ACA4 BE Al P1 15MM 12/04/97 63 5.51 5.56 1x15MM �) CSCE BE A1P2D1 20NM 12/04/97 63 5.54 5.59 1x2omm le)JCP4 BE A1P1F1 13990M 12/04/97 63 5.50 5.55 1x13990M �9) ASSET4 BE A1+P1 12404M 12/05/97 64 5.51 5.56 1x12404M 610 rg-all rights reserved. Frankfurt 169- 920410 Hong SOM. 2.521-3000 Uonftni171-330-750o New York.212-316.2000 Prineeton:609-279-3000 Singaporm1226-3000 9ydney:2-9777-a600 Tokyo:3-3202-8900 Sao Poulo!11-3048-4500 G168-451-10 02-Oct-97 15!26!21 ME-41IL't, L-I'Vt"tf 19, Page . M-Xkt M L Enter # <yellow key> to select ae=ity or <PAW> COMMERCIAL PAPER OFFERINGS Pace 4 of 9 MATURITY RANGE: 59 TO 256 DAYS, 11/30/97 TO 6/15/98 P I R C R S FOR SALE TICKER RATIM SIZZ SAD WZ DAYS I ►'1'S YIELD PIECES 1) JAL4 BE A2 P2 9MM 12/05/97 64 5.82 5.88 1x9MK 2) K2H34 BE Al Pl 960M 12/05/97 64 5.56 5.62 1x960M 3) TBF4 BE Al F1 36971M 12/05/97 64 5.54 5.60 1x36971M 4) WOVL4 BE Al P1 13827M 12/05/97 64 5.53 5.58 1x13827M s) JCP4 BE A1PIF1 12/05/97 64 5.50 5.55 s) SAFECO BE A1P2D1 17365M 12/05/97 64 5.57 5.63 1x17365M 7) MC BE .Al P1 490M 12/05/97 64 5.55 5.61 1x490M e) BAYHS BE Al P1 377M 12/08/97 67 5.53 5.59 1x377M 9) SAF'ECO BE A1P2D1 7581M 12/08/97 67 5.57 5.63 lx7581M io) RRDON4 BE Al P1 18NM 12/09/97 68 5.49 5.55 1XISW 11) BCC4 BE Al P1 405M 12/10/97 69 5.55 5.61 1x405M 12) BFC4 BE Al P1 45456M 12/10/97 69 5.51 5.57 lx45456M 13)APEX4 BE Al P1 261M 12/10/97 69 5.58 5.64 1x261M 14) KZHI4 BE Al P1 586M 12/10/97. 69 5.56 5.62 lx586M is) CASE BE A2 P2 1632M 12/10/97 69 5.71 5.77 1x1632M m JAL4 BE A2 P2 3M 12/10/97 69 9.82 5.89 1x3MM 17) USWCF4 BE A2P2D2 262M 12/11/97 70 5.70 5.76 lx262M 16) KM4 BE A1+P1 12NM 12/11/97 70 5.48 5.54 1x12MM 1s) DFC4 BE A1+P1 807M 12/11/97 70 5.51 5.57 1x807M Bloamb*rg-all rights re0erve4• Frankfurt-99-920410 Hong Kong:2-521-3000 London;171-330.7500 NGw Y6rk:212-318-2000 Princeton:609-219-3000 8irgapore:226.3000 Sydner:2-9777-4600 Tckyo:3-3201-0900 Sale Paulo;ll-3048-4500 9162-453-10 02-Oct-97 15:26:24 7 Page Rater # <yellcv keys to select security or EPAGU> .Msg:F. CONSTABLE COMMERCIAL PAPER OFFERINGS Page 5 at 9 MATURITY RANGE: 59 TO 256 LAYS, 11/30/97 TO 6/15/98 PIECES FOR SALE TICAER RATIrIG SIZE SD WY BAYS RATE YXRLD PIECES 1) COURT4 BE A2P2D1 12/11/97 70 5.75 5.82 2) NSC4 BE-A2 P2 5100M 12/12/97 71 5.68 5.74 1x5100M 3) BFC4 BE Al P1 11487M 12/12/97 71 5.51 5.57 1x11487M 4) BART4 BE A1+P1 7206M 12/12/97 72 5.52 5.58 1x7206M s) TXTFIN BE A2 P2 1.2/12/97 71 5.69 5.74 6) LUC BE A1P1D1 12/12/97 71 5.50 5.56 7) SAFECO BE A1P2D1 400M 12/12/97 72 5.57 5.63 1X400M a)IiART4 BE A1+P1 4972M 12/15/97 74 5.52 5.58 1x4972M 9) PENT BE A2 P2 119M 12/25/97 74 5.71 5.78 1X119M io) SO'IHBY BE A1P2F1 6MM 12/15/97 74 5.55 5.61 1x6W ii) CASE BE A2 P2 231M 12/15/97 74 5.72 5.78 1x231M 1z) TBF4 BE Al F1 54037M 12/15/97 74 5.54 5.60 lx54037M 13) CA(IRA BE A2 P2 20142M 12/15/97 74 5.65 5.72 1x20142M ia)I(ZH34 BE Al P1 4626M 12/15/97 74 5.56 5.62 lx4626M 15) TOSHUK BE Al P1 300M 12/15/97 74 5.60 5.67 1X300M 16) ED14 BE Al+P1 29307M 12/15/97 74 5.52 5.57 1x29307M 17) BART4 BE A1+P1 25354M 12/16/97 75 5.52 5.58 1x25354M xa) KZHC4 BE Al P1 3045M 12/16/97 75 5.56 5.63 W045M 1)) KZH14 BE Al P1 591M 12/17/97 76 5.56 5.63 lx591M Bloomberg -all Princeton!609-299.3000 rights reserved. Frankiurt.-0-920410 bong Jio Wit-S21-3000 100ndon-171-330-7600 New York:212-319-2000 Singapore:226-3000 Sydney;2-9777-5600 Tokyo;3-32D1-6500 Sao Paulo;11-3048-4500 0168-453-10 02-Oct-97 15;26;26 44 page . M-Nkt M L Enter 6 <yellow ler> to select aecurityy or EPAGE> COMMERCIAL PAPER OFFERINGS Page 6 Of 9 MATURITY RANGEz 59 TO 256 DAYS, 11/30/97 TO 6/15/98 PIECES FOR SALE TIC RATXW SIZE SD M Y DAYS RATE YIELD PIECES 1) CRT BE Al P1 398M 12/17/97 76 5.57 5.64 lx3 98M 2) LUC BE A1P1D1 12/17/97 76 5.48 5.54 3)KZH34 BE Al P1 8693M. 12/17/97 76 5.S6 5.63 lx8693M 4) KZHC4 BE Al Pl 677M 12/17/97 76 5.56 5.63 lx677M 5) CATA BE A1+D1+ 224M 12/17/97 76 5.53 5.60 1x224M 6) HTACHC BE A1+ SOON 12/18/97 77 5.55 5.62 1x500M 7) CATS BE A1+D1+ 2400M 12/18/97 77 5.53 5.60 lx2400M. a)ATCAP BE A2P3F2 118M 12/18/97 77 5.83 5.90 1x118M R) KZHC4 BE Al P1 677M 12/24/97 83 5.56 5.63 IX677M 10) DFC4 BE A1+P1 748M 12/31/97 90 5.51 5.59 1X748M 11) KZH34 BE Al P1 3484M 12/31/97 90 5.56 5.64 lx3484M 1a) CRT BE Al P1 114M 12/31/97 90 5.57 5.65 1x114M 13) GE BE A1+P1 21342M 12/31/97 90 5.48 5.56 1x21342M 14) =4 BE Al P1 5466M 12/31/97 90 5.56 5.64 1x5466M is) TD BE Al+P1 41472M 1/02/98 92 5.53 5.61 1x41472M 16) FP4 BE Al Pl 705M 1/02/98 92 5.60 5.6E 1x705M 17) HALIFX BE A1+P1 97700M 1/05/98 95 5.53 5.61 lx97700M is) GLAX04 BE A1+P1 1260M 1 1/05/98 95 5.53 5.61 1x126OM 1g) RW4 BE Al P1 2407M 1/05/98 95 5.60 5.68 lx2407M Bloomberg-611 rights reserved. Prankfurt:69-930410 Hong Fgmge2-521-3000 14ndan!171-330-7500 New Yorki212-318-2000 Frineeten:609-279-3000 $ingaporesZ26-3000 9yft*y!2-9777-$600 Tokypt3-3201-9900 Sad psao!11-1042-4500 0168.453-10 07-0ot-91 15:26=28 Page .Mog:F. CONSTABLE Enter # <yellow key> to select security or <PA(Z> COMMERCIAL PAPER OPPIXINGS Page 7 of 9 MATURITY RANGE: 59 TO 256 DAYS, 11/30/97 TO 6/15/98 PZZCZS FOR SALE TICS RATIM SIZE SD NrY nAYS RATE YM= 3?12KMS 1) APEX4 BE Al P1 1/05/98 95 5.60 5.68 2) BENZ BE Al P1 47300M 1/05/98 95 5.53 5.61 lx47300M 3) BKLUX BE A1+P1 25M 1/05/98 95 5.53 5.61 lx25MK 4) NORD BE Al P1 69525M 1/05/98 95 5.55 5.63 lx69525M s> ML BE A1+P1 2MM 1/06/98 96 5.S7 5.65 1x2MK 6� NEC4 BE A2 P2 1/06/98 96 5.90 5.99 SVEN BE Al P1 50M 1 1/07/98 97 5.54 5.62 1x50MK e1 HYUNDA BE Al P1 4500M 1/09/98 99 5.57 S.66 1x4500M s) MCI4 BE Al P1 5MM 1 1115198 105 5.57 5.66 1x5MM 1o► GECR BE Al+P1 7MM 1/15/98 105 5.51 5.60 1x11500M 1i) CATB BE Al+Dl+ im 1/15/98 105 5.57 5.66 1x1MM 13) CATB BE Al+D1+ 175M 1/16/98 106 5.57 5.66 1x175M 13) BENZ BE Al P1 94425M 1/20/98 110 5.53 5.63 IX94425M 14) CIT BE Al P1 5MK 1/20/98 110 5.50 5.59 1x5MM 1.5) GOTHM4 BE Al PI 427M 1/21/98 Ill 5.60 5.70 1X427M 16) MCI BE Al P1 10MK 1 1/23/98 113 5.57 5.67 1x10MN 17) CATA BE Al+D1+ 250M 1/29/98 119 5.57 5.67 lx250M la) APEX4 BE Al P1 1714M 2/02/98 123 5.60 5.71 1x1714M 19) GECR BE A1+P1 398M 2/02/98 123 5.55 5.66 1x398M Bloomberg -all rights reserved. Frankiurt:60-020410 HOog KWV1 2-521-3000 L*ndod:171-330-7500 Nev York;212-318-2000 Princeten:609-279-3000 Ungpporc=226-3000 8ydncyo2-9777.5600 Tokya;3-3201-$900 Sao Paulo!11-3043-4300 G166-453-10 02-Oct-97 15:2G:30 Page . M-Mkt M L Enter # <1rellow key> to select security or <PAM> COMMERCIAL PAPER OFFERINGS Page 8 of 9 MATURITY RANGE: 59 TO 256 DAYS, 11/30/97 TO 6/15/98 PIZCZS FOR SALE TIC RATIM SIZE SSD MPY DAYS RATE YIELD PI $ tf NATRUR BE A1+P1 675M 2/03/98 124 5.51 5.62 1x675M 2) MONS4 $B A1PID1 17500M 2/04/98 125 5.52 5.63 1x17500M 3) ASTRO4 BE Al P1 449M 2/05/98 126 5.61 5.72 1x449M 4) MCI4 BE Al P1 25850M 2/20/98 141 5.57 5.69 1x25850M s) KZH4 BE Al P1 201M 2/23/98 244 5.59 5.72 1x201M s) KZH114 BE Al P1 270M 2/23/98 144 5.59 5.72 1X270M 7) MCI4 BE Al P1 38195M 2/24/98 145 5.57 5.70 1x38195M s� SF14 BE A1+P1 200M 2/25/98 1.46 5.55 5.68 1x200M y� EFC4 BE A1+P1 750M 2/27/98 148 5.54 5.67 1x750M 1o> SONIC4 BE A1+P1 34.500M 3/02/98 151 5.53 5.66 lx34500M x%) KZH34 BE Al P1 353M 3/03/98 152 5.58 5.71 lx353M 12) ASTRQ4 BE Al P1 682M 3/05/98 254 5.60 5.74 lx682M 13) XZB34 BE Al Pl 1548M 3/18/98 167 5.58 5.73 1x1548M 1a) SFI4 BE A1+P1 46705M 3/19/98 168 5.54 5.69 lx46705M 15) SF14 BE A1+P1 37MM 3/26/98 175 5.54 5.69 1X37MN 15) ACE4 BE A1+D1 49500M 3/27/98 176 5.56 5.72 IX49500M k?y SFI4 BE Al+P1 30513M 3/30/98 179 5.54 5.70 1x30513M 1s) KZHS4 BE Al P1 131M 3/30/98 279 5.58 5.74 1x131M 19) ACE4 BE Al+171 48MM 3/30/98 179 5.56 5.72 lx48MM AlQcwbFrg-all right* raverved. Frankfurt:69-920410 Hong Kong;2-521-3000 London:271-330-7500 flew York;212-318-2000 ?rinceton:609-279-3000 eingapere;226-3000 8ydney:2-9777-9600 Tokyo.3-3201-p900 Sac Paulo:11-3048-45DO 0168-453-10 02-Oct-97 15:26:32 reXp, i L t, L,7 �/C, 9 17 Page .Mag:F. CONSTABLE Rater # -cyan. W kopw to sale security or <PACrE> OOMMERCXAL PAPER OFFERINGS Page 5of 9 MATURITY RANGE: 59 TO 256 DAYS, 11/30/97 TO 6/15/98 PIECES FOR SALE. TICKER RATIM SIZE 5D Krz DAYS RATE YID PIS 1) MONS4 BE AlP1D1 5100M 4/01/98 181 5.52 5.68 1x5100M 2) CADES BE A1+P1 25M 4 4/06/98 186 5.51 5.67 WSM 3) CRT BE Al Pl 9M 1 4/06/98 186 5.58 5.75 1x9MM 4) ML BE A1+P1 572M 5/27/98 237 5.57 5.78 1x572M I n; I I1ZO)�1�. 210&mberg-oll rights reserved. Frankfurt:69-92D410 Hong YAMgr2-621.3000 Lo dan:171-330-7500 New York- 222-318-2000 PrincctCn=609-379-3000 Singapore:926-3000 2ydrey►:2-0777-a600 Tdkyo:3-1301-9900 Sae Paulo: 12 -3049-4500 0160-03-10 03-CCt-97 15:26:34 Page CP availability and price subject to Gage. 2 4 8 1 0 DOMESTIC C F SECONDARY AMT ISSUE MTY RATE 2360M ATCAP-SEll/ 4 5.800I 6570M A LA$4 11/ 4 5.570 56232 GOTHM4 -B11/ 4 5.560 2MM1 APCFM 11/ 4 5.500 3430M BERKF'4-Bll/ 4 5.550 1050M SALT -BE 11/ 4 5.500 1993M ALGN-BE 11/ 4 5.500 18MM PSCOL-BEll/ 5 5.680 3880M CRNC K-BE11/ 5 5.680 4378M PFUEL-BE11/ 5 5.700 950M MRTL-BE 11/ 5 5.500 507M KZHI4-BEll/ 5 5.560 711M YCZH34-BE11/ 5 5.560 10MMI REEBOK-Bll/ 6 5.700 650M PSEG-BE 11/ 6 5.700 600M OCAI-BE 11/ 6 5.700 AMT ISSUE r_ _. MI'Y . RATS 25MM! DUKCC4-Bll/ 6 5.540 513M BAYSHO-Bll/ 6 5.550 975M SALT -BE 11/ 6 5.500 1094M KZH34-BE11/ 6 5.560 518M SAN4-BE 11/ 6 S.560 13495 CDISCO-Bll/ 7 5.680 5500M JFM-HE 11/ 7 5.480 I2140M FAFLIC-B11/ 7 5,520' 1 86MMI TBF4-BE 11/ 7 5.540 500M COKE -BE 11/10 5.470 36200 PSEG-BE 11/10 5.690 20924 KZH34-BE11/10 5.560 650M ASCOT4-B11/10 5.530' 500M M M-BE 11/12 5.500 10MK FAFLIC-Bl1/12 5.520 SMMI MISCO-811/12 5.6801 M-Mkt T 10- 2-97 15:19 AM 1'!3sm MTY RATE 750M BELLSO-B11/12 5.480 125MM EDI4-BE 11/12 5.510 7200M RYE4-1E 11/13 5.710 20800 FINOVA B11/13 5.550 145MMI EFC4 -SE 11/13 5.510 500M TOYMC-BE11/14 5.480 5MM FW4 11/14 5.520 4643M VBRMT4 11/14 5.480 2MM KMB4-BE 11/14 5.480 718M COMMCS-Bll/14 5.550 2500M CDISC'O-B11/14 5.680 49MM TBF4-BE 11/14 5.540 1500M EFC4-BE 11/14 5.510 920M MWAA-D 11/17 5.591 2765M MMA-C 11/17 5.591 53086 CWTDE-$Ell/17 5.940 Bloomberg -all rights reserved, FranRlurt:69-920410 Hong Kong:2-591-3000 London 1171 - 330-7600 H&r York:212-319.2000 Princetont609-299.3000 5ingaperee226-3000 Cydney:2-9777-86p0 Tokyv:3-3201-9900 Sao paularll-3048-4500 0168-433-10 02-Oct-97 15:21:11 M. se-, R'c i LL L`A r-\ co Page CF availability and price subject to cbaWe. 2 4 8 1 1 DOMESTIC C P SECONDARY AMT ISSUE MTY_ 1815M CSW-BE 11/17 5.670 517M DFC4-BE 11/17 5.510 747M APEX4-BE11/17 5.580 5653M CW11)2-13E11/18 5.540 642M. APCFLlN 11/18 5.520 1275M EFC4-BE 11/18 5.510 862M KZH34-BE11/19 5.560 2093M NSC4-BE 11/20 5.690 10 M HILTN4-B11/20 .5.730 50MM EDI4-BE 11/21 5.510 1452M COMCI-B11/21 5.530 827M CARHFA,-B11/21 5.600', 600M BALT-BE 11/21 5.500i 1921M KZ1434-BE11/21 5.560 920M DIS4-BE 11/21 5.530 9MM KMB4-$E 11/24 5.480 mg ISSUE _MTY 6M+d OAK 11/24 5.580 17223 BART4-BE11/25 5.520 1700M APCFUN 11/25 5.530 592M KZHS4-BE11/25 5.560 566M DFC4-BE 11/25 5.510 103MM ROSE4-BE11/20 5,530 4500M ATCAP-BE21/28 5.820 3797M BART4-BE12/ 1 5.520 4NM SAFECO-B12/ 1 5.570 35MM PAV4 12/ 1 5.520 500M CATB-BE 12/ 2 5.5301'i 11367 KZH34-BE12/ 2 5.5601 5NM DDF4 -BE 12/ 2 5,560 13M4 SAFEC'O-B12/ 3 5.570 683M KZHS4-BE12/ 3 5,560 590M KZHI4-13E12/ 3 5.5601 Meg.-F. CONSTABLE 10- 2-97 15:20 = ISSUE k=RATE 677M KZHC4-SE12/ 3 5.560 13990 JCP4-BE 12/ 4 5.500 2 0MM CSCE-BE 12/ 4 5.540 15MN! ACA4-BE 12/ 4 5.510 13827 W0VL4-8E12/ 5 5.530 36971 TBF4-BE 12/ 5 5.540 17365 SAFECO-812/ 5 5.570 960M KZH34-BE12/ 5 5.560 7581M BAFECO-B12/ 9 5.570 18MM RRD0N4-S12/ 9 5.490 45456 .BFC4 -BE 12/10 5.510 1632M CASE -BE 12/10 5.710 586M =14-BE12/10 5.560 12NM KMB4-BE 12/11 5.480 807M DFC4-BE 12/11 5.510 11487 EFC4-BE 12/12 5.510 21p0mbarg-all riynta roservcd. Franlsfurt:69-920410 Bong Kon43;2-521-3000 London:l71-330-7500 New Yprk:212-31p-2000 Princetantd09-279.3000 singapare:226-3000 Sydney;2-9777-5600 Tokypt3-3201-8500 Sao Paulo;11-3048-4.500 G16e-453-10 02-Det-97 15:21t21 Page * CP availability and price ovbject to change. 2 4 8 1 2 DOMESTIC C P SECONDARY AW z ssm _MTY 5100M NSC4-BE 12/12 5.680 7206M BART4-SE12/12 5.520 4626M KZH34-BE12/25 5.560 20142 CAGRA-BE12/15 5.650 54037 TBF4-BE 12/15 5.540 29307 ED14-BE 12/15 5.510, 6M SOTHBY-BI2/15 5.550 4972M HAPT4-BE12/15 5.520 25354 BART4-BE12/16 5.520 3045M KZHC4-BE12/16 5.560 591M KZHI4-BE12/17 5.560 677M KZHC4--BE12/1.7 5.560 8693M KZH34-BE12/17 5.560 2400M CATB-BE 12/18 5.530 677M KMC4-BE12/24 5.560 21342 (M-BE 12/31 5.480 = ISSUE . t' _xTE 5466M KZHS4-BE12/31 5.560 ,3484M KZH34-BE12/31 5.560 748M DFC4-BE 12/31 5.510 705M FP4 1/ 2 5.600 2407M BAN4-BE 1/ 5 5.600 2NM ML-BE 1/ 6 5.570 5NM MCI4-BE 1/15@ 5.570 7MM GECR-BE 1/15 5.510 INM CATB-BE 1/15 5.570I 5MM CIT-BE 1/20 5.5001 10M MCI4-BE 1/232 5.570 1714M APEX4-BE 2/ 2 5.600 675M NATRVR-B 2/ 3 5.510 17500 MONS4 Z/ 4 5.520 25850 MCI4-SE 2/20 5.570 38195 MC14-BE 2/24 5.570 X-Mkt T 10- 2-97 15:20 Air 3s.SUE WY RATE 750M EFC4-BE 2/27 S,540 682M ASM04-B 3/ 5 5.600 1548M KZH34-BE 3/18 5.580 46705 SIGM4BE 3/19 5.540 37MM SIGM48E 3/26 5.540 49500 ACE4-BE 3/27 5.560 30513 SIGM4BE 3/30 5.540 48MM ACE4-BE 3/30 5.560 5100M MCNS4 4/ 1 5.520 572M ML-BE 5/27 5.570 21eu org.-all rights reserved- Frankfurt :69-920410 Hong Kong:2-521-3000 LoYalon:111-320-7500 Now York;212-316-2000 PrinCetOW609-279-3000 $irogWre:226-3000 Sydney:2-9777-5600 Tokyo:3-3201-0000 Sao Paulo;11-3m-4500 Oita-453-10 02-OCt-97 15:21!27 TOTAL P.13 OZ U � �r OF TNt INVESTMENT ADVISORY BOARD October 8, 1997 CORRESPONDENCE & WRITTEN MATERIAL A TITLE: Month End Cash Report - September 1997 BACKGROUND: This cash report is not a complete Treasury Report (exclude petty cash, deferred compensation and fiscal agent balances, ) but would report in a timely fashion selected cash balances. RECOMMENDATION: Information item only. ohn M. Falconers, Finance Director (1) O 4- O O LL N N O CL N 0 O N r C'! UM J W E O Vo Mco r- M N N rl-co � I cc . O O 4 cococoo CMO 0 m O 0 o �O �0000 O OOOMND"p D�p� F-� O O NOOOO�� O O O 00�0,0 OO CO OM �Chco co (0 ChChOpOMr M M D O D 04O r O O C) r N N N N N O O ll� O d O CO O CO 0 4)N N N � 00000co0)0)d 0 10 �t� E� w c, tOCONNTw vi O for co r 00cr)M r OOO N00 CV) 0 0 1� r CO O 0)cMM1rIl-coN Nti — 'd' �i' �i' � O 0 00 0o O O O 0 r• ch N 0 0 O O O O 66 4 ap r' L6 C00 �U- N N N I� UQ CO M W o (00 CO CD CN CN r 1` c)COO_ N N N N N N O O U') O O Nr OOO� r r r � 0 0 0 o0)� Cp � 'TN'7 04 M M CM IlONO d lt d• Cy r r lq C\f N N N 0`0) ca 0 o 0 0 0 0 �� 0 LL Oi C)O O O N .0O O 0 O 0) N N O C MC) r r O O C)co cr) (D 0 0� O O O O O U- Nr C) C) OD OO ti ti � N O CO N CO CO CO CO M 0) m Q rn rn rn LL O' N r' 000 000 000 N t0 � 0) 0) O M M 0) U*)�rno�to LO U') ~�to W UO (n N'LO N CO coONOM N M N M ' U I M r CEO ` N M co 00 000 N N N I i i 7 L 0) � N U 0 N 1� NI p (4 i (0 L �j i- 1l- r` 00 O 0 U a) N')COO 0) U')L O r U CN (D N Q N m NI C 0 0 L D n i M CO U U C N 4) U C 0 (n N Cm o o a 0)V- cU cm m LmI m U cn O L CL CLcQ N (C m '0 -0 4) a) -0 c N _C C (DCD cm CL o v O N (9 m 3 O-C m fn 1--._ U C W -----� '0 Q (n O j 5 O N W -� -� Q (A -0 Q > a) 5 N N � N N '� II 4 0_ EO C 0 N C) N N m N L E >L' N (n N '0 N C c E 0 C N C a) 0 v N V E L U- c 0 C , C w O 7 O O > �75 O O C N Co0.� N N N70a 0)a)0 Mn f0 00 in<Z U �r w 0o oar � �a N N NZ L- (DN a- M 0 N6. 4) p 0. O O 0. +�+ C 0. (n N 0 F- N a) N 0 N 4+ L C O V N = 0 N N 0 = O ~ N -0 Q CL .� 0) OC CL 0 C 0 a C U 0)a }. � 0_ 0 a0 M m � 'o 0 0- Q' 0 s� U U- 0. aCi=E LO �� U.� m CC cE 0 t C N E-C �m0 jai U `2 > U °).-cCa 0 N 0 - -t Z V N Z" a.L E a N a O acY U i 0 0 c N 0 0' N 0 AG 0 O fn 3 .0 0 C r_ *Fn Mh i 0-0 CL 0LL 0 0 0 �` C -Z p O 0 C 0 O)o a? E 0_ U N C r N U 0 r E fn N U) D O O C 0. D �' C X E 0) 0_ N -0 U� O (D 0 E 0 0 0 n N m N "' E 0 a)m v -0 � 4)M 0 0 0 0. 0 >, L CL a .5 N D O 0) Q— M Lo 0-0a ac Xm 0mCL 0 �3U� coN m� �Ea d 30'DC �� 0-gr G O 0. (D 0 0. 0) may U ►. .eE.0 f 0C N m�c 81 m.�-00 a)0 o.4) - AIL -CND Fes-- 0 (nF- �Z m r / +T► 0 t" U 'Al OF TNT INVESTMENT ADVISORY BOARD Meeting Date: TITLE: October 8, 1997 Pooled Money Investment Board Report BACKGROUND: Correspondence & Written Material Item B The Pooled Money Investment Board Report for June, 1997 is included in the agenda packet. RECOMMENDATION: Receive & File John M. Falconer, Finance Director STATE OF CALIFORNIA STATE TREASURER'S OFFICE POOLED MONEY INVESTMENT BOARD REPORT JUNE 1997 Table of Contents SUMMARY...... .......... ...................... .................................................. ....................1 SELECTEDINVESTMENT DATA....................................................................2 PORTFOLIOCOMPOSITION...........................................................................3 INVESTMENTTRANSACTIONS......................................................................4 TIMEDEPOSITS................................................................................................19 DEMANDBANK DEPOSITS............................................................................22 POOLED MONEY INVESTMENT BOARD DESIGNATION .....................23 POOLED MONEY INVESTMENT ACCOUNT SUMIMARY OF INVESTMENT DATA A COMPARISON OF JUNE 1997 WITH JUNE 1996 (Dollars in Thousands) Average Daily Portfolio Accrued Earnings Effective Yield Average Life --Month End (in days) Total Security Transactions Amount Number Total Time Deposit Transactions Amount Number Average Workday Investment Activity Prescribed Demand Account Balances For Services For Uncollected Funds $ 21,569,932 $ 15,839,124 + $5,730,808 489 369 + 120 $ 186,100 $ 76,500 32 11 $ 1,036,001 $ 795,781 $ 140,675 $ 127,474 $175,698 $172,654 + 109,600 +21 + $240,220 + $13,201 + $3,044 —1— MATT FONG STATE TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) Change in June 30,1997 Percent From Type of Security Amount Percent Previous Month Governments Bills $1,041,669 3.65 + .07 Bonds 0 0 0 Notes 5,698,042 19.98 + 1.60 Strips 121,604 .43 + .02 Total Governments $6,861,315 24.06 + 1.69 Federal Agency Coupons $1,425,273 5.00 + .71 Certificates of Deposit 61,832,540 23.96 - 232 Bank Notes 9499074 333 + .71 Bankers Acceptances 870,395 3.05 + 1.26 Repurchases 29,495 .10 - .02 Federal Agency Discount Notes 207,520 .73 - .15 Time Deposits 560,295 1.96 + .22 GNMA's 2,987 .01 0 Commercial Paper 6,782,756 23.79 - 3.60 FHLMC 28,779 .10 0 Corporate Bonds 1,789,875 6.28 - 32 Pooled Loans 2,1759095 7.63 + .82 GF Loans 0 0 0 Reversed Repurchases 0 0 -1.00 Total, All Types $28,515,399 100 INVESTMENT ACTIVITY Number Pooled Money 489 Other 6 Time Deposits 32 TOTALS 527 PMIA Monthly Average Effective Yield 5.667 Year to Date Yield for Last Day of Month 5.599 June 1997 May 1997 Amount Number Amount $ 21,569,932 330 $ 13,994,820 $ 2,311 14 $ 489977 $ 186,100 25 $ 372,200 $ 21,758,343 369 $ 14,415,997 5.634 5.592 —2— Corporate Bonds 6.28% Commerc Paper 23.79% Repo .10% Bankers Acceptances 3.05% Pooled Money Investment Account Portfolio Composition $28.5 Billion Loans 7.63% Treasuries 24.06% CD's/BN's 27.29% Time Deposits 1.96% Mortgages 0.11 % Agencies 5.73% 6/30/97 ® Treasuries 0 Time Deposits ■ Mortgages ® Agencies ■ CD's/BN's ® Bankers Acceptances ■ Repo Commercial Paper ® Corporate Bonds ❑ Loans El Reverses —3— 06/02/97 RRS Treas Bill 05/28/98 5.150 $50,000 Treas Bill 05/28/98 5.150 50,000 Treas Bill 05/28/98 5.150 50,000 SALE Treas Note 5.125% 02/28/98 5.917 50,000 431 654,551.63 6.157 Treas Note 5.125% 02/28/98 5.895 50,000 431 654,551.63 6.171 Treas Note 5.125% 02/28/98 5.895 50,000 441 654,551.63 6.017 Treas Note 5.125% 02/28/98 5.879 50,000 441 654,551.63 6.023 REDEMPTION BN BA 5.440% 06/02/97 5.440 50,000 166 1,254,222.22 5.515 CD World 5.580% 06/02/97 5.580 40,000 31 192,229.65 5.658 CD World 5.580% 06/02/97 5.580 50,000 32 248,000.00- 5.657 CD World 5.580% 06/02/97 5.580 50,000 32 248,000.00 5.657 CD Bayrsche L 5.510% 06/02/97 5.500 30,000 33 151,251.38 5.576 CD Bayrsche L 5.510% 06/02/97 5.500 50,000 33 252,085.64 5.576 CD CIBC 5.560% 06/02/97 -5.560 45,000 33 229,350.00 5.637 CD CIBC f .560% 06/02/97 5.560 50,000 33 254,833.33 5.637 CD US Wash 5.290% 06/02/97 5.300 50,000 97 714,008.81 5.373 CP GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CP GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CP GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CP GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CP GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CP Assoc 06/02/97 5.660 50,000 3 23,583.33 5.741 CP Assoc 06/02/97 5.660 50,000. 3 23,583.33 5.741 CP Amer Exp 06/02/97 5.550 10,000 4 6,166.67 5.630 CP Amer Exp 06/02/97 5.550 50,000 4 30,833.33 5.630 CP Amer Exp 06/02/97 5.550 50,000 4 30,833.33 5.630 CP Baxter 06/02/97 5.650 50,000 28 219,722.22 5.753 CP Salomon 06/02/97 5.750 50,000 47 375,347.00 5.873 SALE .q/ CD RaboBank 6.200% 04/09/97 5.650 36,000 3 16,761.67 5.728 PURCHASE S/ CP Morg Stan 06/26/97 5.530 50,000 CP Morg Stan 06/26/97 5.530 50,000 CP Morg Stan 06/26/97 5.530 50,000 —4— E�U .... . .V. .. .. a/ Mx1TURETY TEtANS PAt DAYS :;:J�YEO[tNT ET 06/02/97 PURCHASE Treas Note 6.250% 05/31/99 6.280 50,000 Treas Note 6.250% 05/31/99 6.280 50,000 Treas Note 6.250% 05/31/99 6.280 50,000 Treas Note 6.250% 05/31/99 6.290 50,000 BN FNB Chic 5.680% 09/02/97 5.650 50,000. BN FNB Chic 5.680% 09/02/97 5.650 50,000 CD Bkrs Trst 5.660% 09/02/97 5.650 50,000 CD Bkrs Trst 5.660% 09/02/97 5.650 50,000 CP Assoc 06/03/97 5.610 25,000 CP Salomon 07/03/97 5.770 50,000 PURCHASE g/ CD Deutsche CD Deutsche 06/03/97 RRS Treas Note Treas Note Treas Note Treas Note REDEMPTION CP Assoc CP GMAC CP GMAC REDEMPTION c/ CD Deutsche CD Deutsche PURCHASE g/ CD Wachovia CD Wachovia CD Wachovia CD Wachovia PURCHASE CP GECC PURCHASE g/ CD Tokyo-Mits 5.670% 09/08/97 5.700 1,000 5.670% 09/08/97 5.700 50,000 6.250% 05/31/99 5.150 50,000 6.250% 05/31/99 5.150 50,000 6.250% 05/31/99 5.150 50,000 6.250% 05/31/99 5.150 50,000 06/03/97 5.610 25,000 1 3,895.83 5.688 06/03/97 5.530 50,000 13 99,847.22 5.618 06/03/97 5.530 50,000 13 99,847.22 5.618 5.670% . 09/08/97 5.700 1,000 1 155.32 5.779 5.670% 09/08/97 5.700 50,000 1 7,765.94 5.779 5.510% 06/30/97 5.490 50,000 5.510% 06/30/97 5.490 50,000 5.510% 06/30/97 5.490 50,000 5.510% 06/30/97 5.490 50,000 06/04/97 5.580 25,000 5.780% 08/29/97 5.700 153,000 —5— ,.. ?QL _ .CIYEEI►C ..: . NT dl ,' a/ MATt7RETY TRANS' FAR DAIS A11RCriU'f641i�E DESCRIPTION DATE =YIELD LOM, 06/04/97 SALE Treas Note 5.125% 02/28/98 5.797 50,000 450 3,460,769.06 5.676 Treas Note 5.125% 02/28/98 5.797 50,000 450 3,460,769.06 5.676 REDEMPTION CID GECC 06/04/97 5.580 25,000 1 3,875.00 5.658 CID GMAC 06/04/97 5.530 5,000 14 10,762.78 5.618 CID GMAC 06/04/97 5.530 50,000 14 107,527.78 5.618 CID Baxter 06/04/97 5.600 30,000 14 65,333.33 5.690 SALE c/ CD Tokyo-Mits 5.780% 08/29/97 5.700 153,000 1 23,742.08 5.779 PURCHASE BN B/A 5.860% 01 /05/98 5.860 50,000 CID Baxter 07/01 /97 5.700 25,000 BA Tokyo-Mits 06/30/97 5.570 17,100 CID Household 06/30/97 5.500 50,000 CID Houshold -06/30/97 5.500 10,000 CID Amer Exp 06/30/97 5.520 50,000 CP Amer Exp 06/30/97 5.520 50,000 CID Amer .Exp 06/30/97 5.520 50,000 PURCHASE .q/ CD Deutsche 5.670% 09/08/97 5.600 50,000 CD Deutsche 5.670% 09/08/97 5.600 50,000 OW05197 SALE c/ CD Deutsche CD Deutsche REDEMPTION CID Hertz BA Union CD RaboBank CD RaboBank PURCHASE CID Assoc CID Assoc CID Assoc 5.670% 09/08/97 5.600 50,000 1 7,632.02 5.677 5.670% 09/08/97 5.600 50,000 1 7,632.02 5.677 06/05/97 5.500 50,000 14 106,944.44 5.588 06/05/97 5.490 10,.000 14 21,350.00 5.578 5.420% 06/05/97 5A10 15,000 91 205,164.76 5.485 5.420% 06/05/97 5.410 50,000 91 683,882.50 5.485 06/06/97 5.460 06/06/97 5.460 06/06/97 5.460 50,000 50,000 20,000 M• ._ . .... ... ; .. �l MATUR rY TRAMS` BAR DAIS R1�oE�Ni :�ECfli�E: :. Q�ON DATE . YIEELD tECD EASED .. 06/05/97 PURCHASE c/ CD Deutsche 5.670% 09/08/97 5.550 50,000 06/06/97 REDEMPTION CP Assoc 06/06/97 5.460 50,000 1 7,583.33 5.536 CP Assoc 06/06/97 5.460 50,000 1 7,583.33 5.536 CP Assoc 06/06/97 5.460 20,000 1 3,033.33 5.536 CD RaboBank 5.430% 06/06/97 5.410. 50,000 92 691,312.62 5.485 CP Transam 06/06/97 5.520 5,000 15 11,500.00 5.609 CP Transam 06/06/97 5.520 50,000 15 115,000.00 5.609 SALE q/ CD Deutsche 5.670% 09/08/97 5.550 50,000 1 7,563.88 5.627 PURCHASE CP GECC 06/30/97 5.480 50,000 CP GECC 06/30/97 5.480 5,000 CP Conagra 07/11 /97 5.700 20,000 PURCHASE c/ CD Deutsche 5.670% 09/08/97 5.500 50,000 06/09/97 REDEMPTION CP GMAC CP GMAC CP GMAC MTN FMCC MTN Assoc MTN GMAC SALE c/ CD Deutsche PURCHASE d CD Deutsche 06/10/97 REDEMPTION 06/09/97 5.500 50,000 18 137,500.00 5.591 06/09/97 5.500 50,000 18 137,500.00 5.591 06/09/97 5.500 50,000 18 137,500.00 5.591 6.700% 06/09/97 6.707 50,000 1096 10,078,611.11 6:714 6.770% 06/09/97 6.770 10,000 1098 2,034,761.11 6.774 4.862% 06/09/97 5.927 10,000 1046 1,746,606.49 6.103 5.670% 09/08/97 5.500 50,000 3 22,489.96 5.576 5.670% 09/08/97 5.550 25,000 CP Conagra 06/10/97 5.670 48,000 12 90,720.00 5.759 CP GMAC 06/10/97 5.500 50,000 19 145,138.89 5.592 CP GMAC .06/10/97 5.500 50,000 19 145,138.89 5.592 CP Amer Exp 06/10/97 5.500- 50,000 19 145,138.89 5.592 —7— 0��61 I_,_ a;b__d�=-' .. :: .. ... ;at MAit pm TRAMS : PAR.. DAIS- A#ROft�FIT FE1C?f11E DESCMPTIO N .............. EARNEEV YEW..:. 06/10/97 REDEMPTION CP Amer Exp 06/10/97 5.500 50,000 19 145,138.89 5.592 CP Bear 06/10/97 5.270 50,000 109 797,819.45 5.429 CP Bear 06/10/97 5.270 50,000 109 797,819.45 5.429 FHLB 5.865% 06/10/97 5.754 14,160 308 694,642.40 5.810 SALE c/ CD Deutsche 5.670% 09/08/97 5.550 25,000 1 3,795.43 5.627 NO PURCHASES 06/11/97 REDEMPTION MTN IBM 5.850% 06/11/97 5.870 50,000 365 2,924,500.00 5.870 PURCHASE, CP GECC 06/12/97 5.500 50,000 CP GECC 06/12/97 5.500 50,000 CP GECC 06/12/97 5.500 50,000 FHLB 5.910% 06/11/98 6.020 50,000 06/12/97 REDEMPTION CP GECC 06/12/97 5.500 50,000 1 7,638.89 5.577 CP GECC 06/12/97 5.500 50,000 1 7,638.89 5.577 CP GECC 06/12/97 5.500 50,000 1 7,638.89 5.577 PURCHASE BA Tokyo-Mits 09/30/97 5.650 18,700 BA Tokyo-Mits 10/01 /97 5.650 11,000 BA Tokyo-Mits 10/06/97 5.650 18,250 BA Tokyo-Mits 10/10/97 5.650 90,000 BA Tokyo-Mits I W7/97 5.650 13,900 CD Soc Gen 5.630% 08/11 /97 5.600 25,000 CD Nat W.Mstr 5.680% 09/09/97 5.620 30,000 CP Lehman 10/01 /97 5.630 50,000 CP Lehman 10/01/97 5.630 50,000 PURCHASE cl CD Deutsche 5.670% 09/08/97 5.600 50,000 06/13/97 SALE c/ CD Deutsche 5.670% 09/08/97 5.600 _ 50,000 1 7,640.89 5.677 —8— -: ..: .. ,. .. .. lilw 06/13/97 PURCHASE BA B/A 07/11 /97 5.480 5,000 BA B/A 09/09/97 5.500 11,000 BA B/A 11 /06/97 5.510 5,000 BA B/A 12/02/97 5.520 10,000 BA B/A 12/05/97 5.520 8,000 BA B/A 12/08/97 5.520 16,000 CID GECC 08/11/97 5.540 50,000 CID GECC 08/11/97 5.540 20,000 CD BN Paris 5.700% 12/10/97 5.690 25,000 CD BN Paris 5.700% 12/10/97 5.690 50,000 CD Tokyo 5.780% 08/29/97 5.680 50,000 CID Text Fin 07/21/97 5.780 6,500 CID Fst Chic 07/23/97 5.830 8,599 06/16/97 REDEMPTION MTN GMAC 6.000% 06/16/97 5.510 10,000 213 PURCHASE- BN FNB Chic 5.680% 11/26/97 5.680 50,000 BN FNB Chic 5.680% 11/26/97 5.680 50,000 CD Tokyo-Mits 5.730% 10/28/97 5.730 100,000 CD Bayrsche L 5.700% 12/29/97 5.680 50,000 CD Bayrsche L 5.700% 12/29/97 5.680 50,000 CID Hertz 06/27/97 5.510 50,000 CID GMAC 06/27/97 5.530 50,000 CID GMAC 06/27/97 5.530 50,000 CID GMAC 06/27/97 5.530 50,000 CID GMAC 06/27/97 5.530 50,000 CID Smith Bam . 07/01/97 5.530 50,000 CID Smith Bam 07/10/97 5.530 50,000 CID CCC 07/02/97 5.520 50,000 CID CCC 07/02/97 5.520 50,000 CID Amer Exp 07/03/97 5.520 50,000 CID Amer Exp 07/03/97 5.520 50,000 CID Amer Exp 07/03/97 5.520 50,000 CID Amer EXp 07/03/97 5.520 50,000 06/17/97 REDEMPTION MTN IBM 6.000% 06/17/97 6.000 50,000 365 323,566.67 5.529 3,000,000.00 6.000 —9— _. P°3ONEX[�tYtEN' AC{3NT .. .. �` MATUtZETY TtiANIS PAR: DAYS EFFECT DATE DESCRIPTION DA 1�1ELD 06/17/97 PURCHASE BN B/A 5.530% 07/21 /97 5.530 50,000 BN B/A 5.530% 07/21 /97 5.530 50,000 CD Deutsche 5.540% 07/11 /97 5.560 50,000 CD Deutsche 5.540% 07/11 /97 5.560 50,000 CD World 5.620% 09/26/97 5.640 50,000 CD UB Calif 5.620% 10/28/97 5.620 50,000 CD UB Calif 5.620% 10/28/97 5.620 50,000 CD Bayrsche L 5.660% 11/26/97 5.640 50,000 CD Bayrsche L 5.660% 11/26/97 5.640 50,000 CD US Oregon 5.680% 11/26/97 5.680 50,000 CD US Oregon 5.680% 11/26/97 5.680 50,000 CD Bkrs Trst 5.690% 11/26/97 5.680 50,000 CD Bkrs Trst 5.690% 11/26/97 5.680 50,000 06/18/97 NO SALES NO PURCHASES 06/19/97 NO SALES PURCHASE BN FNB Chic 5.640% 11/24/97 5.640 50,000 BN FNB Chic 5.640% 11/24/97 5.640 50,000 CD CIBC 5.580% 08/20/97 5.580 45,000 CD CIBC 5.580% 08/20/97 5.580 50,000 CD ABN Amro 5.640% 11/26/97 5.630 25,000 CD ABN Amro 5.640% 11/26/97 5.630 50,000 CD ABN Amro 5.640% 11/26/97 5.630 50,000 CP Bear 10/28/97 5.580 10,000 CP Bear 10/28/97 5.580 50,000 CP GECC 11/26/97 5.570 50,000 CP GECC 11/26/97 5.570 50,000 Treas Note 6.250% 05/31 /99 6.019 50,000 Treas Note 6.250% 05/31 /99 6.019 50,000 Treas Note 6.250% 05/31 /99 6.019 50,000 06/20/97 NO SALES PURCHASE CP GMAC 11/26/97 5.590 50,000 CP GMAC 11/26/97 5.590 50,000 CP GMAC 11/26/97 5.590 50,000 CP GMAC 11/26/97 5.590 50,000 —10— +c�� ► u+on i .S-�rE � ►t:c OuNT ... MATURITY TRANS Pi�R DAYS ttl►1T EFFE37E �3AE DESCRIPTION DATE YIEL 341 ... EANm Y 06/23/97 NO SALES PURCHASE CD Tokyo-Mits 5.840% 07/02/97 5.630 15,000 CD Montreal 5.560% 07/07/97 5.560 15,000 CD Montreal 5.560% 07/07/97 5.560 50,000 CP Conagra 07/01 /97 5.780 17,436 CP Conagre 07/02/97 5.770 39,000 CP Conagra 07/02/97 5.770 50,000 CP GMAC 07/02/97 5.510 50,000 CP GMAC 07/02/97 5.510 50,000 CP GMAC 07/02/97 5.510 50,000 CP GMAC 07-0297 5.510 50,000 CP Smith Barn 07/07/97 5.550 40,000 CP Smith Barn 07/07/97 5.550 50,000 CP Smith Barn 07/07/97 5.550 50,000 CP Morg Stan 08/11 /97 5.560 50,000 CP Morg Stan 08/11 /97 5.560 50,000 CP Morg Stan 08/11 /97 5.560 50,000 CP Morg Stan 08/11 /97 5.560 50,000 Treas Note 6.875% 07/31 /99 6.035 50,000 Treas Note 6.875% 07/31 /99 6.035 50,000 Treas Note 6.875% 07/31 /99 6.035 50,000 Treas Note 6.875% 07131 /99 6.035 50,000 06124/97 REDEMPTION FHLB 5.865% 06/24/97 6.000 50,000 365 2,996,953.12 6.001 PURCHASE BN B/A 5.720% 12/29/97 5.720 50,000 BN B/A 5.720% 12/29/97 5.720 50,000 CD WestDeut 5.680% 12/29/97 5.680 35,000 CD WestDeut 5.680% 12/29/97 5.680 50,000 PURCHASE c/ CD Dresdner 5.950% 04/13/98 5.450 41,000 Disc Note FHLB 09/17/97 5.350 1,010 Disc Note FHLB 09/17/97 5.350 4,850 Disc Note FHLB 09/17/97 5.350 50,000 Disc Note FHLB 09/17/97 5.350 50,000 Disc Note FNMA 12/04/97 5.350 50,000 FFCB 5.500% 09/02/97 5.320 40,000 FHLB 5.630% 12/24/97 5.320 45,000 FNMA 6.500% 01/27/00 5.320 15,865 Treas Note 6.000% 11 /30/97 5.300 19,466 Treas Note 6.000% 1-2/31 /97 5.300 30,000 Treas Note 6.000% 12/31 /97 5.300 • 50,000 —11— �3L D OH N :S' AENTAi`i OUNT d► PM'TURrrY TRANS ' PAR DAYS . E TYP nEscRoN DA1 06/24/97 PURCHASE d Treas Note 5.000% 02/15/99 5.300 1,836 Treas Note 5.000% 02/15/99 5.300 50,000 Treas Note 5.000% 02/15/99 5.300 50,000 Treas Note 6.750% 05/31/99 5.300 50,000 06/25/97 SALE g/ CD' Dresdner 5.950% 04/13/98 5.450 41,000 1 6,097.94 5.525 Disc Note FHLB 09/17/97 5.350 1,010 1 143.71 5.424 Disc Note FHLB 09/17/97 5.350 4,850 1 696.24 5.424 Disc Note FHLB 09/17/97 5.350 50,000 1 7,180.29 5.424 Disc Note FHLB 09/17/97 5.350 50,000 1 7,180.29 5.424 Disc Note FNMA 12/04/97 5.350 50,000 1 7,091.13 5.424 FFCB 5.500% 09/02/97 5.320 40,000 1 5,814.61 5.393 FHLB .5.630% 12/24/97 5.320 45,000 1 6,611.28 5.393 FNMA 01/27/00 5.320 15,865 1 2,351.88 5.393 Treas Note 6.000% 11 /30/97 5.300 19,466 1 2,821.96 5.373 Treas Note 6.000% 12/31 /97 5.300 30,000 1 4,462.60 5.373 Treas Note 6.000% 12/31 /97 5.300 50,000 1 7,437.67 5.373 Treas Note 5.000% 02/15/09 5.300 1,836 1 265.88 5.373 Treas Note 5.000% 02/15/99 5.300 50,000 1 7,238.18 5.373 Treas Note 5.000% 02/15/99 5.300 50,000 1 7,238.18 5.373 Treas Note 6.750% 05/31 /99 5.300 50,000 1 7,341.09 . 5.373 PURCHASE BA Tokyo-Mits 08/27/97 5.630 27,400 BA Tokyo-Mits 10/01/97 5.660 23,100 BA Tokyo-Mits 11/07/97 5.660 30,000 CID Lehman 11 /26/97 5.620 20,000 06/26/97 REDEMPTION g/ CD US Wash 5.540% 06/26/97 5.540 50,000 44 338,555.56 5.616 CD US Wash 5.540% 06/26/97 5.540 50,000 44 338,555.56 5.616 BN FNB Chicago 5.560% 06/26/97 5.550 50,000 51 393,130.52 5.627 BN FNB Chicago 5.560% 06/26/97 5.550 50,000 51 393,130.52 5.627 CID Morg Stan 06/26/97 5.530 50,000 24 184,333.33 5.627 CID Morg Stan 06/26/97 5.530 50,000 24 184,333.33 5.627 CID Morg Stan 06/26/97 5.530 50,000 24 184,333.33 5.627 REDEMPTION Treas Bill 06/26/97 5.260 50,000 324 2,367,000.00 5.598 Treas Bill 06/26/97 5.260 50,000 324 2,367,000.00 5.598 Treas Bill 06/26/97 5.265 50,000 324 2,369,250.00 5.603 —12- POO�.IOMM-1 NT dl. z at el MATURITY TRANS PAR DAYS A�ROI�NT .:' QA ...... T'iP P ION DAi E X1F1D000} D .. 06/26/97 REDEMPTION Treas BIII 06/26/97 5.265 50,000 324 2,369,250.00 5.603 Treas BIII 06/26/97 5.270 50,000 324 2,371,500.00 5.609 Treas Bill 06/26/97 5.270 50,000 324 2,371,500.00 5.609 Treas Bill 06/26/97 5.270 50,000 324 2,371,500.00 5.609 RRP Treas Bill 06/26/97 4.990 50,000 51 (350,994.73) -5.059 Treas Bill 06/26/97 4.990 50,000 51 (350,994.73) -5.059 Treas BIII 06/26/97 4.850 50,000 44 (293,869.58) -4.917 Treas BIII 06/26/97 4.850 50,000 44 (293,869.58) -4.917 Treas Bill 05/28/98 5.150 50,000 24 (161,967.50) -5.221 Treas Bill 05/28/98 5.150 50,000 24 (161,967.50) -5.221 Treas Bill 05/28/98 5.150 50,000 24 (161,967.50) -5.221 PURCHASE SBA (FR) 6.125% 05/25/22 6.125 5,483 BA Tokyo-Mits 07/22/97 5.620 26,200 BA Tokyo-Mits 09/08/97 5.620 53,000 BA Tokyo-Mits 09/12/97 5.620 42,400 CD Westpac Bk 5.600% 07/25/97 5.580 20,000 CD Westpac Bk 5.600% 07/25/97 5.580 50,000 CD Montreal 5.580% 08/27/97 5.580 15,000 CD Montreal 5.580% 08/27/97 5.580 50,000 CD Bayrsche V 5.690% 12/29/97 5.670 50,000 CD Bayrsche V 5.690% 12/29/97 5.670 50,000 CD Bayrsche V 5.690% 12/29/97 5.670 50,000 Disc Note FNMA 08/27/97 5.400 30,000 Disc Note FNMA 08/27/97 5.400 30,000 Disc Note FNMA 09/05/97 5.420 50,000 Disc Note FHLMC 09/26/97 5.430 50,000 Disc Note. FHLMC 09/26/97 5.430 50,000 Treas Bill 06/25/98 5.320 50,000 Treas Bill 06/25/98 5.320 50,000 Treas Bill 06/25/98 5.325 50,000 Treas BIII 06/25/98 5.325 50,000 06/27/97 REDEMPTION BA Tokyo-Mits 06/27/97 5.630 53,750 73 613,630.90 5.774 CD Nova Scotia 5.340% 06/27/97 5.340 115,000 127 2,166,408.33 5.414 CID Hertz 06/27/97 5.510 50,000 11 84,180.56 5.595 CID GMAC 06/27/97 5.530 50,000 11 84,486.11 5.616 CID GMAC 06/27/97 5.530 50,000 11 84,486.11 5.616 CID GMAC 06/27/97 5.530 50,000 11 84,486.11 5.616 CID GMAC 06/27/97 5.530 50,000 11 84,486.11 5.616 CID FMCC 06/27/97 5.570 50,000 66 510,583.33 5.705 —13— NT tU ECiiIE al MATE1Rn Y TRAr1S PAR DAYS AMOUNT £FF 1i .. TiE DESCRfPTION DATE 06/27/97 REDEMPTION CID FMCC 06/27/97 5.570 50,000 66 510,583.33 5.705 CID GMAC 06/27/97 5.590 22,000 66 225,463.33 5.726 CID GMAC 06/27/97 5.590 50,000 66 512,416.67 5.726 CID Assoc 06/27/97 5.550 50,000 67 516,458.33 5.685 CID GECC 06/27/97 5.550 50,000 67 516,458.33 5.685 CID Bear 06/27/97 5.350 50,000 116 861,944.45 5.519 CID Bear 06/27/97 5.350 50,000 116 861,944.45 5.519 CID FMCC 06/27/97 5.260 50,000 133 971,638.89 5.438 CID GECC 06/27/97 5.290 50,000 140 1,028,611.11 5.476 CID GECC 06/27/97 5.290 50,000 140 1,028,611.11 5.476 PURCHASE CD Nova Scotia 5.700% 12/29/97 5.700 50,000 CD CIBC 5.950% 06/29/98 6.000 25,000 CD CIBC 5.950% 06/29/98 6.000 50,000 CID Transam 07/10/97 5.600 33,400 CID Baxter 08/26/97 5.750 28,000 CID Conagra 09/09/97 5.700 25,000 CID Bear 10/01/97 5.590 50,000 CID Bear 10/01 /97 5.590 50,000 CID FMCC 10/28/97 5.560 50,000 CID FMCC 10/28/97 5.560 50,000 CID FMCC 10/28/97 5.560 50,000 CID GMAC 10/28/97 5.580 50,000 CID GMAC 10/28/97 5.580 50,000 Treas Bill 06/25/98 5.325 50,000 Treas BIII 06/25/98 5.325 50,000 Treas Bill 06/25/97 5.325 50,000 Treas BIII 06/25/97 5.325 50,000 FNMA 5.710% 06/23/98 5.866 50,000 FNMA 5.710% 06/23/98 5.866 50,000 CID Amer EXp 10/28/97 5.550 50,000 CID Amer Exp 10/28/97 5.550 50,000 CID Amer Exp 10/28/97 5.550 50,000 06130/97 SALE g/ CD Wachovia 5.510% 06/30/97 5.490 50,000 27 205,878.08 5.566 CD Wachovia 5.510% 06/30/97 5.490 50,000 27 205,878.08 5.566 CD Wachovia 5.510% 06/30/97 5.500 50,000 27 206,251.54 5.576 CD Wachovia 5.510% 06/30/97 5.500 50,000 27 206,251.54 5.576 CD Bkrs Trst 5.660% 06/30/97 5.650 50,000 89 698,419.81 5.728 CD Bkrs Trst 5.660% 06/30/97 5.650 50,000 89 698,419.81 5.728 SALE Treas Bill 12/11 /97 5.135 25,000 192 699,500.05 5.607 Treas Bill 12/11 /97 5.135 - 50,000 192 1,399,000.10 5.607 —14— - MONEY 1iE TtGIEI�i' . Iff df �1 MATURnY TRANS PAR DA1lS . AN<OE�NT £FFECTJIIE . �OOQ1 aTF . T Y NEON DATE YIELD E�IRNED 06/30/97 REDEMPTION BA Tokyo-Mits 06/30/97 5.570 17,100 26 68,789.50 5.670 BA Tokyo-Mits 06/30/97 5.630 10,650 76 126,581.17 5.776 BN NBDetroit 5.360% 06/30/97 5.370 32,000 123 587,100.30 5.444 BN B/A 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 BN B/A 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 BN B/A 5.660% 06/30/97 5.660 50,000 328 2,578,444.44 6.738 BN B/A 5.660% 06/30/97 5.660 50,000 328 2,578,444.44 5.738 CD Montreal 5.560% 06/30/97 5.560 50,000 31 239,388.89 5.637 CD Montreal 5.560% 06/30/97 5.560 50,000 31 239,388.89 5.637 CD WestDeut 5.570% 06/30/97 5.570 50,000 31 239,819.44 5.647 CD WestDeut 5.570% 06/30/97 5.570 50,000 31 239,819.44 5.647 CD WestDeut 5.570% 06/30/97 5.570 50,000 31 239,819.44 5.647 CD Stan Chart 5.560% 06/30/97 5.550 30,000 60 277,504.58 5.627 CD Stand Chart 5.560% 06/30/97 5.550 50,000 60 462,507.63 5.627 CD Stand Chart 5.560% 06/30/97 5.550 50,000 60 462,507.63 5.627 CD Mellon 5.600% 06/30/97 5.600 50,000 60 466,666.67 5.677 CD Barclays 5.600% 06/30/97 5.600 50,000 67 521,111.14 ' 5.677 CD Barclays 5.600% 06/30/97 5.600 50,000 67 521,111.11 5.677 CD Cr Agricole 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Cr Agricole 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Hong Kong 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Hong Kong 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Midland 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Midland 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD BN Paris 5.610% 06/30/97 5.590 25,000 70 271,746.56 5.667 CD BN Paris 5.610% 06/30/97 5.590 50,000 70 543,493.13 5.667 CD US Oregon 5.590% 06/30/97 5.590 50,000 70 543,472.22 5.667 CD Wachovia 5.590% 06/30/97 5.580 50,000 70 542,510.43 5.657 CD Barclays 5.600% 06/30/97 5.590 50,000 70 543,482.67 5.667 CD Barclays 5.600% 06/30/97 5.590 50,000 70 543,482.67 5.667 CD Wachovia 5.320% 06/30/97 5.320 50,000 126 923,611.11 5.393 CD Barclays 5.330% 06/30/97 5,330 50,000 130 962,361.11 5.404 CD Midland 5.375% 06/30/97 5.375 50,000 136 1,015,277.78 5.449 CD Midland 5.375% 06/30/97 5.375 50,000 136 1,015,277.78 5.449 CD CIBC 5.400% 06/30/97 5.400 45,000 146 985,500.00 5.475 CD Nova Scotia 5.410% 06/30/97 5.410 50,000 151 1,134,597.22 5.485 CD Nova Scotia 5.410% 06/30/97 5.410 50,000 151 1,134,597.22 5.485 CD Mellon 5.400% 06/30/97 5.400 50,000 158 1,185,000.00 5.475 CD Montreal 5.480% 06/30/97 5.480 20,000 160 487,111.11 5.556 CD Svenska 5.480% 06/30/97 5.480 100,000 172 2,618,222.22 5.556 CD Dresdner 5.650% 06/30/97 5.640 25,000 328 1,284,777.99 5.718 CD RB Canada 5.650% 06/30/97 5.640 50,000 328 2,569,555.99 5.718 CD Tokyo-Mits 5.760% 06/30/97 5.760 100,000 328 5248,000.00 5.840 CD Hong Kong 5.650% 06/30/97 5.650 50,000 328 2:573,888.89 5.728 CD Hong Kong 5.650% 06/30/97 5.650 500000 328 29573,888.89 5.728 CD Midland 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 CD Midland 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 CD Union 5.680% 06/30/97 5.680 50,000 328 2,587,555.56 5.758 CID GECC 06/30/97 5.480 50,000 24 182,666.67 5.576 CID GECC 06/30/97 5.480 5,000 24 18,266.67 5.576 -IL 5- PQOLEYNiTME1d+CUNT iy. , a/ MATURITY TRAN$ i�Att OAYS AMOUNT EFEEC�11E I3lei DE5E�t1PT10N DATEHap YIELD 06/30/97 REDEMPTION CP Household 06/30/97 5.500 50,000 26 198,611.10 5.598 CP Household 06/30/97 5.500 10,000 26 39,722.22 5.598 CP Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CP Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CP Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CP Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CP GMAC 06/30/97 5.540 30,000 31 1.43,116.67 5.643 CP GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CP GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CP GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CP GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CP Merrill 06/30/97 5.580 25,000 60 232,500.00 5.710 CP Merrill 06/30/97 5.580 50,000 60 465,000.00 5.710 CP Lehman 06/30/97 5.600 50,000 60 466,666.67 5.731 CP Lehman 06/30/97 5.600 50,000 60 466,666.67 5.731 CP Hertz 06/30/97 5.570 50,000 70 541,527.78 5.709 CP Amer Exp 06/30/97 5.520 50,000 73 559,666.67 5.660 CP Amer Exp 06/30/97 5.520 50,000 73 559,666.67 5.660 CP GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CP GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CP GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CP GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CP FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CP FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CP FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CP FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CP FMCC 06/30/97 5.570 50,000 74 572,472.22 5.713 CP FMCC 06/30/97 5.570 50,000 74 672,472.22 5.713 CP Heller 06/30/97 5.650 30,000 76 357,833.33 5.797 CP Assoc 06/30/97 5.340 50,000 119 882,583.33 5.511 CP Assoc 06/30/97 5.340 50,000 119 882,583.33 5.511 CP Salomon 06/30/97 5.530 50,000 119 913,986.11 5.711 CP Salomon 06/30/97 5.530 50,000 119 913,986.11 5.711 CP Merrill' 06/30/97 5.350 50,000 119 884,236.10 5.521 CP Merrill 06/30/97 5.350 50,000 119' 884,236.10 5.521 CP B/A 06/30/97 5.250 25,000 131 477,604.17 5.426 CP FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CP FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CP FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CP GMAC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CP GMAC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CP FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CP FMCC 06/30/97 5.300 25,000 145 . 533,680.56 5.490 CP FMCC 06/30/97 5.300 50,000 145 1,067,361.11 5.490 CP FMCC 06/30/97 5.300 50,000 145 1,067,361.11 5.490 CP Amer Exp 06/30/97 5.310 50,0.00 147 1,084,125.00 5.503 CP Amer Exp 06/30/97 5.310 50,000 147 1,084,125.00 5.503 CP Amer Exp 06/30/97 5.310 50,000 147 1,084,125.00 5.503 CP Amer Exp 06/30/97 5.310 50,000 147 1,084,125.00 5.503 CP Bear 06/30/97 5.380 - 35,000 158 826,427.77 5.586 -16- .. _ .. .. dl : -it MATVRMY ,TRANS PAR DAYS AUNT DESCRiPTlON D/ITE YIEL (000) iiELD EARNRELD 06/30/97 REDEMPTION CP B/A 06/30/97 5.340 50,000 158 1,171,833.35 5.544 CP GECC 06/30/97 5.340 50,000 158 1,171,833.33 5.544 CP GECC 06/30/97 5.450 50,000 158 1,171,833.33 5.544 CP GECC 06/30/97 5.450 50,000 158 1,171,833.33 5.544 CP GECC 06/30/97 5.340 50,000 158 1,171,833.33 5.544 CP GMAC 06/30/97 5.370 50,000 160 1,193,333.33 5.577 CP GMAC 06/30/97 5.370 5,000 160 119;333.30 .5.577 FHLB 4.300% 06/30/97 5.850 10,000 328 521,200.00 5.878 Disc Note FHLB 06/30/97 5.490 25,180 89 341,755.55 5.642 Disc Note FNMA 06/30/97 5.320 50,000 328 2,423,555.56 5.668 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Treas Note 5.625% 06/30/97 5.600 50,000 328 2,521,908.97 5.611 Treas Note 5.625% 06/30/97 5.600 50,000 328 2,521,908.97 5.611 RRP Treas Note 5.625% 06/30/97 5.275 50,000 89 (661,757.61) -5.348 Treas Note 5.625% 06/30/97 5.275 50,000 89 (661,757:61) -5.348 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 PURCHASE FHLB 5.830% 06/30/98 5.874 25,850, FHLB 5.840% 06/30/98 5.874 40,000 CP GMAC 07/01/97 6.250 50,000 CP GMAC 07/01/97 6.250 50,000 CP GMAC 07/01/97 6.250 50,000 CP GECC 07/01/97 6.250 50,000 CP GECC 07/01/97 6.250 50,000 CP GECC 07/01/97 6.250 50,000 CP Enron 07/01/97 6.500 30,000 CP Lehman 07/01/97 6.375 22,339 CP Lehman 07/01/97 6.375 50,000 CP Conagra 07/02/97 6.120 30,000 CP FMCC 07/03/97 5.750 50,000 CP FMCC 07/03/97 5.750 50,000 CP Salomon 07/07/97 5.760 50,000 PURCHASE c/ CD Dresdner 5.950% 04/13/98 6.200 30,000 —17— a/ The abbreviations indicate the type of security purchased or sold; i.e., (U.S.) Bills, Bonds, Notes, Debentures, Discount Notes, and Participation Certificates: Federal National Mortgage Association (FNMA), Farmers Home Administration Notes (FHA), Student Loan Marketing Association (SLMA), Small Business Association (SBA), Negotiable Certificates of Deposit (CD), Negotiable Certificates of Deposit Floating Rate (CD FR), Export Import Notes (EXIM), Bankers Acceptances (BA), Commercial Paper (CP), Government National Mortgage Association (GNMA), Federal Home Loan Bank, Notes (FHLB), Federal Land Bank Bonds (FLB), Federal Home Loan Mortgage Corporation Obligation (FHLMC PC) & (FHLMC GMC), Federal Farm Credit Bank Bonds (FFCB), Federal Farm Credit Discount Notes (FFC), Corporate Securities (CB), U.S. Ship Financing Bonds (TITLE MIS), International Bank of Redevelopment (IBRD), Tennessee Valley Authority (TVA) Medium Term Notes (ITN). b/ Purchase or sale yield based on 360 day calculation for discount obligations and Repurchase Agreements. c/ Repurchase Agreement. d/ Par amount of securites purchased, sold, or redeemed. e/ Securities were- purchased and sold as of the same dale. fl Repurchase Agreement against Reverse Repurchase Agreement. 9/ Outright purchase against Reverse Repurchase Agreement. b/ Security "SWAP" transactions. i/ Buy back agreement. RRS Reverse Repurchase Agreement. RRP Termination of Reverse Repurchase Agreement. —18— TIME DEPOSIT NAME DEPOSIT DATE YIELD PAR AMOUNT ($) MATURITY DATE ALHAMBRA East West Federal Bank 04/16/97 5.330 2,000,000.00 07/17/97 BEVERLY_HILLS City National Bank 01/28/97 5.350 10,000,000.00 07/29/97 City National Bank 02/19/97 5.200 20,000,000.00 08/19/97 City National Bank 02/21 /97 5.390 20,000,000.00 12/18/97 City National Bank 05/06/97 5.580 10,000,000.00 11/04/97 CHICO North State National Bank 02/25/97 5.270 500,000.00 08/26/97 North State National Bank 04/08/97 5.530 2,000,000.00 10/06/97 North State National Bank 06/13/97 4.990 500,000.00 09/11/97 Tri Counties Bank 06/26/97 5.310 15,000:000.00 01/02/97 GLENDALE Glendale Federal Bank 06/30/97 5.160 3,000,000.00 09/29/97. INGLEWOOD Imperial Bank 04/02/97 5.380 11,000,000.00 07/01/97 Imperial Bank 04/16/97 5.350 25,000,000.00 07/17/97 Imperial Bank 04/29/97 5.380 5,000,000.00 07/29/97 Imperial Bank 05/06/97 5.300 10,000,000.00 08/05/97 Imperial Bank 05/08/97 5.300 20,000,000.00 08/07/97 Imperial Bank 05/14/97 5.210 20,000,000.00 08/13/97 Imperial Bank 06/10/97 5.110 10,000,000.00 09/10/97 Imperial Bank 06/11/97 5.110 15,000,000.00 09/10/97 Imperial Bank 06/18/97 5.000 11,000,000.00 09/18/97 LA MIRADA Southern California Bank 04/03/97 5.390 5,000,000.00 07/08/97 Southern California Bank 04/16/97 5.360 5,000,000.00 07/17/97 LOS ANGELES Glendale Federal Bank 04/11/97 5.280 5,000,000.00 07/11/97 Preferred Bank 04/15/97 5.310 3,000,000.00 07/15/97 Preferred Bank 05/21/97 5.230 4,000,000.00 08/20/97 Preferred Bank 05/27/97 5.150 2,000,000.00 08/26/97 Preferred Bank 06/17/97 4.960 5,000,000.00 09/16/97 Preferred Bank 06/17/97 4.960 4,000,000.00 09/18/97 Preferred Bank 06/27/97 5.140 3,000,000.00 09/25/97 —19— NAME OAKDALE Oak Valley Community Bank POMONA Pomona First Federal S&L PLACER Sierra West Bank PETALUMA Bank of Petaluma SACRAMENTO Sanwa Bank of California Sanwa Bank of California Sanwa Bank of California Union Bank of California Sanwa Bank of California SAN DIEGO San Diego First Bank Bank of Commerce San Diego SAN FRANCISCO Bank of Canton California Bank of Canton California Trans Pacific National Bank Bank of Canton California Bank of Canton California Bank of Canton California SAN LEANDRO Bay Bank of Commerce TIME DEPOSIT DEPOSIT DATE YIELD PAR AMOUNT ($) MATURITY DATE 03/25/97 5.580 05/27/97 5.550 06/06/97 5.480 02/11 /97 5.290 500,000.00 09/22/97 8,000,000.00 11 /25/97 2, 800, 000.00 12/03/97 1,000,000.00 08/12/97 01 /28/97 5.370 5,000,000.00 07/29/97 02/19/97 5.250 50,000,000.00 08/19/97 02/25/97 5.280 10,000,000.00 08/26/97 05/07/97 5.260 100,000,000.00 08/06/97 05/09/97 5.600 7,000,000.00 11 /05/97 06/03/97 5.160 1,500,000.00 09/03/97 06/13/97 5.030 14,000,000.00 09/18/97 02/13/97 5.300 5,000,00.0.00 08/13/97 03/04/97 5.440 5,000,000.00 09/04/97 03/18/97 5.680 800,000.00 09/16/97 04/22/97 5.630 5,000,000.00 10/21 /97 05/07/97 5.210 5,000,000.00 08/07/97 06/10/97 5.090 5,000,000.00 09/10/97 04/07/97 5.300 2,000,000.00 07/07/97 15%fm TIME DEPOSIT NAME DEPOSIT DATE YIELD PAR AMOUNT ($) MATURITY DATE SAN LUIS OBISPO First Bank of San Luis Obispo 04/08/97 First Bank of San Luis Obispo 05/06/97 First Bank of San Luis Obispo 05/06/97 First Bank of San Luis Obispo 05/14/97 First Bank of San Luis Obispo 05/28/97 SAN RAFAEL West America Bank 04/23/97 West America Bank 04/30/97 SANTA ANA Grand National Bank 04/01/97 Grand National Bank 06/10/97 Grand National Bank 06/12/97 STANISLAUS North Valley Bank 03/25/97 TUSTIN Sunwest Bank 06/23/97 VACAVILLE Continental Pacific Bank 06/03/97 VICTORVILLE Citizens Business Bank 06/13/97 Citizens Business Bank 06/13/97 TOTAL TIME DEPOSITS AS OF JUNE 30,1997 5.320 1,000,000.00 07/08/97 5.230 1,000,000.00 08/06/97 5.250 2,600,000.00 08/06/97 5.190 2,000,000.00 08/13/97 5.170 2,500,000.00 08/27/97 5.370 25,000,000.00 07/23/97 5.350 25,000,000.00 07/30/97 5.350 95,000.00 07/01/97 5.410 1,500,000.00 12/09/97 5.080 1,500,000.00 09/10/97 5.580 3,000,000.00 09/22/97 5.600 500,000.00 09/23/97 5.180 1,000,000.00 09/03/97 5.050 10,000,000.00 09/11 /97 5.430 10,000,000.00 12/10/97 $560,295,000.00 —21— DEMAND BANK DEPOSITS (000 omitted) DAILY BALANCES WARRANTS JUKE PER BANKS OUTSTANDING 1. $2939102 3,7599,121 2. 530,934 391609465 3. 555,569 390309844 4. 347,632 3,0459347 5. 3389247 3,0949821 6. 2709548 29874,361 7. 2709548 29874,361 8. 2709548 29874,361 9. 3659744 296799821 10. 4889993 2,6469,524 11. 4299664 296269245 12. 391,517 2,843,653 13. 502,736 2,756,858 14. 502,736 297569858 15. 502,736 2,756,858 16. 4459709 298649,715 17. 307,038 2,7439633 18. 6089974 296299,335 19. 2209257 295909050 20 3499834 29594,125 21. 3499834 295949125 22. 3499834 2,594,125 23. 208,817 29349448 24. 1789092 29,2439498 25. 608,255 2,398,528 26. 4239812 29622,987 27. 3059807 29810,383 28. 3059807 298109,383 29. 3059807 29,8109383 30. 1049462 29451,111 a/ AVERAGE DOLLAR DAYS $3719120 a/ The prescribed bank balance for June was $316,373,000.00. This consisted of $140,675,000.00 in compensating balances for services, $182,3419000.00 uncollected funds and a deduction of $6,643,000.00 fQr February delayed deposit credit. —22— DESIGNATION BY POOLED MONEY INVESTMENT BOARD OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS No. 1576 In accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its meeting on June 18, 1997, has determined and designated the amount of money available for deposit and investment under said sections. In accordance with sections 16480.1 and 16480.2 of the Government Code, it is the intent that the money available for deposit or investment be deposited in bank accounts and savings and loan associations or invested in securities in such a manner so as to realize the maximum return consistent with safe and prudent treasury management, and the Board does hereby designate the amount of money available for deposit in bank accounts, savings and loan associ- ations, and for investment in securities and the type of such deposits and investments as follows: 1. In accordance with law, for deposit in demand bank accounts as Compensating Balance for Services $137,672,000 The active noninterest-bearing bank accounts designation constitutes a calendar -month average balance. For purposes of computing the compensating balances, the Treasurer shall exclude from the daily balances any amounts contained therein as a result of nondelivery of securities purchased for "cash" for the Pooled Money Investment Account and shall adjust for any deposits not credited by the bank as of the date of deposit. The balances in such accounts may fall below the above amount provided that the balances computed by dividing the sum of daily balances of that calendar month by the number of days in the calendar month reasonably approximates that amount. The balances may exceed this amount during heavy collection periods or in anticipation of large impending warrant presentations to the Treasury, but the balances are to be maintained in such a manner as to realize the maximum return consistent with safe and prudent treasury management. 2. In accordance with law, for investment in securities authorized by section 16430, Government Code, or in term interest - bearing deposits in banks and savings and loan associations as follows: From To (1) 06/16/97 (2) 06/23/97 (3) 06/30/97 (4) 07/07/97 (5) 07/14/97 (6) 07/21/97 (7) 07/28/97 (8) 08/04/97 (9) 08/11 /97 (10) 08/18/97 06/20/97 06/27/97 07/04/97 07/11 /97 07/18/97 07/25/97 08/01 /97 08/08/97 08/15/97 08/22/97 Transactions 1,897,000,000 2,130,800,000 (6,596,300,000) 288,200,000 716,900,000 684,300,000 (25,800,000) 108,000,000 173,300,000 1,211,600,000 Time Deposits in various Financial Institutions In Securities (sections 16503a (section 16430)* and 16602)* $ 31,481,705,000 $ 539,295,000 $ 33,612,505,000 $ 539,295,000 $ 27,016,205,000 $ 539,295,000 $ 27,304,405,000 $ 539,295,000 $ 28,021,305,000 $ 539,295,000 $ 28,705,605,000 $ 539,295,000 $ 28,679,805,000 $ 539,295,000 $ 28,787,805,000 $ 539,295,000 $ 28,961,105,000 $ 539,295,000 $ 30,172,705,000 $ 539,295,000 Estimated Total $ 32,021,000,000 $ 34,151,800,000 $ 27,555,500,000 $ 27,843,700,000 $ 28,560,600,000 $ 29,244,900,000 $ 29,219,100,000 $ 29,327,100,000 $ 29,500,400,000 $ 30,712,000,000 From any of the amounts specifically designated above, not more than 30 percent in the aggregate may be invested in prime commercial paper under section 16430(e), Government Code. Additional amounts available in treasury trust account and in the Treasury from time to time, in excess of the amounts and for the same types of investments as specifically designated above. Provided, that the availability of the amounts shown under paragraph 2 is subject to reduction in the amount by which the bank accounts under paragraph 1 would otherwise be reduced below the calendar month average balance of $ 137,672,000. Dated: June 18, 1997 *Government Code Member -23- 00, u S = Aft. OF INVESTMENT ADVISORY BOARD Meeting Date: TITLE: October 8, 1997 Pooled Money Investment Board Report BACKGROUND: Correspondence & Written Material Item B The Pooled Money Investment Board Report for June, 1997 is included in the agenda packet. RECOMMENDATION: Receive & File John M. Falconer, Finance Director 5 �N �� STATE OF CALIFORNIA STATE TREASURER'S OFFICE POOLED MONEY INVESTMENT BOARD REPORT DUNE 1997 Table of Contents SUMMARY............................................................................................................1 SELECTED INVESTMENT DATA....................................................................2 PORTFOLIOCOMPOSITION...........................................................................3 INVESTMENTTRANSACTIONS......................................................................4 TIMEDEPOSITS................................................................................................19 DEMANDBANK DEPOSITS............................................................................22 POOLED MONEY INVESTMENT BOARD DESIGNATION .....................23 MATT FONG STATE TREASURER STATE OF CALIFORNIA INVESTMENT DIVISION SELECTED INVESTMENT DATA ANALYSIS OF THE POOLED MONEY INVESTMENT ACCOUNT PORTFOLIO (000 OMITTED) Change in June 30,1997 Percent From Tyoe of Security Amount Percent Previous Month Governments Bills $1,041,669 3.65 + .07 Bonds Notes 0 5,698,042 0 19.98 + 0 1.60 Strips 1219604 .43 + .02 Total Governments $698611315 24.06 + 1.69 Federal Agency Coupons $1,425,273 5.00 + .71 Certificates of Deposit 6,832,540 23.96 - 232 Bank Notes 9499,074 . 333 + .71 Bankers Acceptances 8709395. 3.05 + 1.26 Repurchases 299495 .10 - .02 Federal Agency Discount Notes 207,520 .73 - .15 Time Deposits 560,295 1.96 + •22 GNMA's 2,987 .01 0 Commercial Paper 6,782,756 23.79 - 3.60 FHLMC 28,779 .10 0 Corporate Bonds 1,7899875 6.28 - 32 Pooled Loans 29175,095 7.63 + .82 GF Loans 0 0 0 Reversed Repurchases 0 0 -1.00 Total, All Types $28,515,399 100 INVESTMENT ACTIVITY June 1997 May 1997 Number Amount Number Amount Pooled Money 489 $ 21,569,932 330 $ 13,994,820 Other 6 $ 2,311 14 $ 48,977 Time Deposits 32 $ 186,100 25 $ 372,200 TOTALS 527 $ 21,758,343 369 $ 14,415,997 PMIA Monthly Average Effective Yield 5.667 5.634 Year to Date Yield for Last Day of Month 5.599 5.592 —2— POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF JUNE 1997 WITH JUKE 1996 (Dollars in Thousands) Jtme1997Juac1946 tea Average Daily Portfolio t30,295,908 $27,531,289 Accrued Earnings $141,109 $125,205 Effective Yield 5.667 5.548 Average Life --Month End (in days) 232 274 Total Security Transactions Amount $ 21,569,932 $ 15,839,124 Number 489 369 Total Time Deposit Transactions Amount $ 186,100 $ 76,500 Number 32 11 Average. Workday Investment Activity $ 1,036,001 $ 795,781 Prescribed Demand Account Balances For Services $ 140,675 $ 127,474 For Uncollected Funds $175,698 $172,654 + 2,764,619 + 15,904 + .119 - 42 + $5,730,808 + 120 + 109,600 +21 + $240,220 + $13,201 + $3,044 —1— .era 0, �� o', � 06/02/97 RRS Treas Bill 05/28/98 5.150 $50,000 Treas Bill 05/28/98 5.150 50,000 Treas Bill 05/28/98 5.150 50,000 SALE Treas Note 5.125% 02/28/98 5.917 50,000 431 654,551.63 6.157 Treas Note 5.125% 02/28/98 5.895 50,000 431 654,651.63 6.171 Treas Note 5.125% 02/28/98 5.895 50,000 441 654,551.63 6.017 Treas Note 5.125% 02/28/98 5.879 50,000 441 654,551.63 6.023 REDEMPTION BN BA 5.440% 06/02/97 5.440 50,000 166 1,254,222.22 5.515 CD World 5.580% 06/02/97 5.580 40,000 31 192,229.65 5.658 CD World 5.580% 06/02/97 5.580 50,000 32 248,000.00- 5.657 CD World 5.580% 06/02/97 5.580 50,000 32 248,000.00 5.657 CD Bayrsche L 5.510% 06/02/97 5.500 30,000 33 151,251.38 5.576 CD Bayrsche L 5.510% 06/02/97 5.500 50,000 33 252,085.64 5.576 CD CIBC 5.560% 06/02/97 5.560 45,000 33 229,350.00 5.637 CD CIBC 5.560% 06/02/97 5.560 50,000 33 254,833.33 5.637 CD US Wash 5.290% 06/02/97 5.300 50,000 97 714,008.81 5.373 CID GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CID GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CP GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CP GECC 06/02/97 5.680 50,000 3 23,666.67 5.761 CID GECC- 06/02/97 5.680 50,000 3 23,666.67 5.761 CID Assoc 06/02/97 5.660 50,000 3 23,583.33 5.741 CP Assoc 06/02/97 5.660 50,000. 3 23,583.33 5.741 CID Amer Exp 06/02/97 5.550 10,000 4 6,166.67 5.630 CP Amer Exp 06/02/97 5.550 50,000 4 .30,833.33 5.630 CID Amer Exp 06/02/97 5.550 50,000 4 30,833.33 5.630 CID Baxter 06/02/97 5.650 50,000 28 219,722.22 .5.753 CID Salomon 06/02/97 5.750 50,000 47 375,347.00 5.873 SALE c/ CD RaboBank PURCHASE g/ CP Morg Stan CID Morg Stan CID Morg Stan 6.200% 04/09/97 5.650 06/26/97 5.530 06/26/97 5.530 06/26/97 5.530 36,000 50,000 50,000 50,000 3 16,761.67 5.728 —4— Commerci Paper 23.79% Rer E Pooled Money Investment Account Portfolio Composition $28.5 Billion Loans Corporate 7.63% 3.05% CD's/BN's 27.29% cries Time Deposits 1.96% Mortgages 0.11 % Agencies 5.73% 6/30/97 0 Treasuries 0 Time Deposits ■ Mortgages ® Agencies ■ CD's/BN's ® Bankers Acceptances ■ Repo 0 Commercial Paper 0 Corporate Bonds 0 Loans El Reverses -3- PO.OLMD-MOVE ',IN STMEN A COUNT ... . a/ MATURFTY TRANS ; PAR DAYS 11 OUNT M IVE DE=iP1ON DAB YlE13i HELD' 06/04/97 SALE Treas Note 5.125% 02/28/98 5.797 50,000 450 3,460,769.06 5.676 Treas Note 5.125% 02/28/98 5.797 50,000 450 3,460,769.06 5.676 REDEMPTION CID GECC 06/04/97 5.580 25,000 1 3,875.00 5.658 CID GMAC 06/04/97 5.530 5,000 14 10,752.78 5.618 CID GMAC 06/04/97 5.530 50,000 14 107,527.78 5.618 CID Baxter 06/04/97 5.600 30,000 14 65,333.33 5.690 SALE c/ CD Tokyo-Mits 5.780% 08/29/97 5.700 153,000 1 23,742.08 5.779 PURCHASE BN B/A 5.860% 01 /05/98 5.860 50,000 CID Baxter 07/01 /97 5.700 25,000 BA Tokyo-Mits 06/30/97 5.570 17,100 CID Household 06/30/97 5.500 50,000 CID Houshold -06/30/97 5.500 10,000 CID Amer Exp 06/30/97 5.520 50,000 CID Amer Exp 06/30/97 5.520 50,000 CP Amer .Exp 06/30/97 5.520 50,000 PURCHASE g/ CD Deutsche 5.670% 09/08/97 5.600 50,000 CD Deutsche 5.670% 09/08/97 5.600 50,000 06/05/97 SALE c/ CD Deutsche CD Deutsche REDEMPTION CID Hertz BA Union CD RaboBank CD RaboBank PURCHASE CID Assoc CID Assoc CID Assoc 5.670% 09/08/97 5.600 50,000 1 7,632.02 5.677 5.670% 09/08/97 5.600 50,000 1 7,632.02 5.677 06/05/97 5.500 50,000 14 106,944.44 5.588 06/05/97 5.490 10,.000 14 21,350.00 5.578 5.420% 06/05/97 5.410 15,000 91 205,164.76 5.485 5.420% 06/05/97 5.410 50,000 91 683,882.50 5.485 06/06/97 5.460 50,000 06/06/97 5.460 50,000 06/06/97 5.460 20,000 Q-m iil�--WV.E�ENT �CCWNT .. t . ' , .. mwtrry 1 i i4NS PJ1R DAYS UNT EFECTWE OPTION QATE 06/02/97 PURCHASE Treas Note 6.250% 05/31 /99 6.280 50,000 Treas Note 6.250% 05/31/99 6.280 50,000 Treas Note 6.250% 05/31 /99 6.280 50,000 Treas Note 6.250% 05/31 /99 6.290 50,000 BN FNB Chic 5.680% 09/02/97 5.650 50,000- BN FNB Chic 5.680% 09/02/97 5.650 50,000 CD Bkrs Trst 5.660% 09/02/97 5.650 50,000 CD Bkrs Trst 5.660% 09/02/97 5.650 50,000 CP Assoc 06/03/97 5.610 25,000 CP Salomon 07/03/97 5.770 50,000 PURCHASE c/ CD Deutsche 5.670% 09/08/97 5.700 1,000 CD Deutsche 5.670% 09/08/97 5.700 50,000 06/03/97 RRS Treas Note Treas Note Treas Note Treas Note REDEMPTION CP Assoc CP GMAC CP GMAC REDEMPTION g/ CD Deutsche CD Deutsche PURCHASE S/ CD Wachovia CD Wachovia CD Wachovia CD Wachovia PURCHASE CP GECC PURCHASE d CD Tokyo-Mits 6.250% 05/31 /99 5.150 50,000 6.250% 05/31 /99 5.150 50,000 6.250% 05/31 /99 5.150 50,000 6.250% 05/31 /99 5.150 50,000 06/03/97 5.610 25,000 1 3,895.83 5.688 06/03/97 5.530 50,000 13 99,847.22 5.618 06/03/97 5.530 50,000 13 99,847.22 5.618 5.670% 09/08/97 5.700 1,000 1 155.32 5.779 5.670% 09/08/97 5.700 50,000 1 7,765.94 5.779 5.510% 06/30/97 5.490 50,000 5.510% 06/30/97 5.490 50,000 5.510% 06/30/97 5.490 50,000 5.510% 06/30/97 5.490 50,000 06/04/97 5.580 25,000 5.780% 08/29/97 5.700 153,000 —5— .... - . ... MrURfY nos p SAYS i?A7E i'1FME .... DE§CRNPTioN DATE EA1tN 06/10/97 REDEMPTION CP Amer Exp 06/10/97 5.500 50,000 19 145,138.89 5.592 CP Bear 06/10/97 5.270 50,000 109 797,819.45 5.429 CP Bear 06/10/97 5.270 50,000 109 797,819.45 5.429 FHLB 5.865% 06/10/97 5.754 14,160 308 694,642.40 5.810 SALE g/ CD Deutsche NO PURCHASES 06/11/97 REDEMPTION MTN IBM PURCHASE. CP GECC CP GECC CP GECC FHLB 06/12/97 REDEMPTION CP GECC CP GECC CP GECC PURCHASE BA Tokyo-Mits BA Tokyo-Mits BA Tokyo-Mits BA Tokyo-Mits BA Tokyo-Mits CD Soc Gen CD Nat W.Mstr CP Lehman CP Lehman PURCHASE _q/ . CD Deutsche 06/13/97 SALE -q/ CD Deutsche 5.670% 09/08/97 5.550 25,000 1 3,795.43 5.627 5.850% 06/11/97 5.870 50,000 365 2,924,500.00 5.870 06/12/97 5.500 50,000 06/12/97 5.500 50,000 06/12/97 5.500 50,000 5.910% 06/11 /98 6.020 50,000 06/12/97 5.500 50,000 1 7,638.89 5.577 06/12/97 5.500 50,000 1 7,638.89 5.577 06/12/97 5.500 50,000 1 7,638.89 5.577 09/30/97 5.650 18,700 10/01 /97 5.650 11,000 10/06/97 5.650 18,250 10/10/97 5.650 90,000 10/27/97 5.650 13,900 5.630% 08/11 /97 5.600 25,000 5.680% 09/09/97 5.620 30,000 10/01 /97 5.630 50,000 10/01 /97 5.630 50,000 5.670% 09/08/97 5.600 50,000 5.670% 09/08/97 5.600. 50,000 1 7,640.89 5.677 —8— 'POO-D"-IAONEi3NV-,ES' -MENT� AGOO NT ....... ...... a/ MATEIliFrY TRAMS: RAR:. DAMS JAMT fF.FBG'tE MANE IEPtN DATEEAMED YIELD QVI 06/05/97 PURCHASE V CD Deutsche 5.670% 09/08/97 5.550 50,000 OW06197 REDEMPTION CP Assoc 06/06/97 5.460 50,000 1 7,583.33 5.536 CP Assoc 06/06/97 5.460 50,000 1 7,583.33 5.536 CP Assoc 06/06/97 5.460 20,000 1 3,033.33 5.536 CD RaboBank 5.430% 06/06/97 5.410 50,000 92 691,312.62 5.485 CP Transam 06/06/97 5.520 5,000 15 11,500.00 5.609 CP Transam 06/06/97 5.520 50,000 15 115,000.00 5.609 SALE c/ CD Deutsche 5.670% 09/08/97 5.550 50,000 1 7,563.88 5.627 PURCHASE CP GECC 06/30/97 5.480 50,000 CP GECC 06/30/97 5.480 5,000 CP Conagra 07/11 /97 5.700 20,000 PURCHASE c/ CD Deutsche 5.670% 09/08/97 5.500 50,000 06/09/97 REDEMPTION CP GMAC CP GMAC CP GMAC MTN FMCC MTN Assoc MTN GMAC SALE c/ CD Deutsche PURCHASE r/ CD Deutsche 06/10/97 REDEMPTION CP Conagra CP GMAC CP GMAC CP Amer Exp 06/09/97 5.500 50,000 18 137,500.00 5.591 06/09/97 5.500 50,000 18 137,500.00 5.591 06/09/97 5.500 50,000 18 137,500.00 5.591 6.700% 06/09/97 6.707 50,000 1096 10,078,611.11 6:714 6.770% 06/09/97 6.770 10,000 .1098 2,034,761.11 6.774 4.862% 06/09/97 5.927 10,000 1046 1,746,606.49 6.103 5.670% 09/08/97 5.500 50,000 5.670% 09/08/97 5.550 25,000 3 22,489.96 5.576 06/10/97 5.670 48,000 12 90,720.00 5.759 06/10/97 5.500 50,000 19 145,138.89 5.592 06/10/97 5.500 50,000 19 145,138.89 5.592 06/10/97 5.500- 50,000 19 145,138.89 5.592 —7— POt? D OI EaC� fEI T AC UNT .. 1 MkTURlTY TRJetNS pJkR;'; DANS -A MOUNT E'FF..E'�C ©A E P ..:i DE9CRiitoN O_ A�' 0 -- 06/17/97 PURCHASE BN B/A 5.530% 07/21/97 5.530 50,000 BN B/A 5.530% 07/21/97 5.530 50,000 CD Deutsche 5.540% 07/11 /97 5.560 50,000 CD Deutsche 5.540% 07/11 /97 5.560 50,000 CD World 5.620% 09/26/97 5.640 50,000 CD U/B Calif 5.620% 10/28/97 5.620 50,000 CD U/B Calif 5.620% 10/28/97 5.620 50,000 CD Bayrsche L 5.660% 11/26/97 5.640 50,000 CD Bayrsche L 5.660% 11/26/97 5.640 50,000 CD US Oregon 5.680% 11/26/97 5.680 50,000 CD US Oregon 5.680% 11/26/97 5.680 50,000 CD Bkrs Trst 5.690% 11/26/97 5.680 50,000 CD Bkrs Trst 5.690% 11/26/97 5.680 50,000 06/18/97 NO SALES NO PURCHASES 06/19/97 NO SALES PURCHASE BN FNB Chic 5.640% 11/24/97 5.640 50,000 BN FNB Chic 5.640% 11/24/97 5.640 50,000 CD CIBC 5.580% 08/20/97 5.580 45,000 CD CIBC 5.580% 08/20/97 5.580 50,000 CD ABN Amro 5.640% 11/26/97 5.630 25,000 CD ABN Amro 5.640% 11/26/97 5.630 50,000 CD ABN Amro 5.640% 11/26/97 5.630 50,000 CID Bear 10/28/97 5.580 10,000 CID Bear 10/28/97 5.580 50,000 CID GECC 11/26/97 5.570 50,000 CID GECC 11/26/97 5.570 50,000 Treas Note 6.250% 05/31/99 6.019 50,000 Treas Note 6.250% 05/31/99 6.019 50,000 Treas Note 6.250% 05/31/99 6.019 50,000 06/20/97 NO SALES PURCHASE CID GMAC 11/26/97 5.590 50,000 CID GMAC 11/26/97 5.590 50,000 CID GMAC 11/26/97 5.590 50,000 CID GMAC 11/26/97 5.590 50,000 —10— 06/13/97 PURCHASE BA B/A 07/11 /97 5.480 5,000 BA B/A 09/09/97 5.500 11,000 BA B/A 11/06/97 5.510 5,000 BA B/A 12/02/97 5.520 10,000 BA B/A 12/05/97 5.520 8,000 BA B/A 12/08/97 5.520 16,000 CID GECC 08/11/97 5.540 50,000 CID GECC 08/11/97 5.540 20,000 CD BN Paris 5.700% 12/10/97 5.690 25,000 CD BN Paris 5.700% 12/10/97 5.690 50,000 CD Tokyo 5.780% 08/29/97 5.680 50,000 CID Text Fin 07/21/97 5.780 6,500 CID Fst Chic 07/23/97 5.830 8,599 06/16/97 REDEMPTION MTN GMAC 6.000% 06/16/97 5.510 10,000 213 323,566.67 5.529 PURCHASE- BN FNB Chic 5.680% 11/26/97 5.680 50,000 BN FNB Chic 5.680% 11/26/97 5.680 50,000 CD Tokyo-Mits 5.730% 10/28/97 5.730 100,000 CD Bayrsche L 5.700% 12/29/97 5.680 50,000 CD Bayrsche L 5.700% 12/29/97 5.680 50,000 CID Hertz 06/27/97 5.510 50,000 CID GMAC 06/27/97 5.530 50,000 CID GMAC 06/27/97 5.530 50,000 CID GMAC 06i27/97 5.530 50,000 CID GMAC 06/27/97 5.530 50,000 CID Smith Barn 07/01 /97 5.530 50,000 CID Smith Barn 07/10/97 5.530 50,000 CID CCC 07/02/97 5.520 50,000 CID CCC 07/02/97 5.520 50,000 CID Amer Exp 07/03/97 5.520 50,000 CID Amer Exp 07/03/97 5.520 50,000 CID Amer Exp 07/03/97 5.520 50,000 CID Amer EXp 07/03/97 5.520 50,000 06/17/97 REDEMPTION MTN IBM 6.000% 06/17/97 6.000 50,000 365 3,000,000.00 6.000 —9— V0'OLEDA,AtEX��ACCQUNT dl of ... a! MATURITY TRANS ::PAR DA1lS. A. &WN7 FEG?!VE !.DA, .. � ... - ... ;, DESCRIPTION DATE �� �1 ' � .,HELD 06/27/97 REDEMPTION CP FMCC 06/27/97 5.570 50,000 66 510,583.33 5.705 CP GMAC 06/27/97 5.590 22,000 66 225,463.33 5.726 CP GMAC 06/27/97 5.590 50,000 66 512,416.67 5.726 CP Assoc 06/27/97 5.550 50,000 67 516,458.33 5.685 CP GECC 06/27/97 5.550 50,000 67 516,458.33 5.685 CP Bear 06/27/97 5.350 50,000 116 861,944.45 5.519 CP Bear 06/27/97 5.350 50,000 116 ,861,944.45 5.519 CP FMCC 06/27/97 5.260 50,000 133 971,638.89 5.438 CP GECC 06/27/97 5.290 50,000 140 1,028,611.11 5.476 CP GECC 06/27/97 5.290 50,000 140 1,028,611.11 5.476 PURCHASE CD Nova Scotia 5.700% 12/29/97 5.700 50,000 CD CIBC 5.950% 06/29/98 6.000 25,000 CD CIBC 5.950% 06/29/98 6.000 50,000 CP Transam 07/10/97 5.600 33,400 CP Baxter 08/26/97 5.750 28,000 CP Conagra 09/09/97 5.700 25,000 CP 'Bear 10/01/97 5.590 50,000 CP Bear 10/01/97 5.590 50,000 CP FMCC 10/28/97 5.560 50,000 CP FMCC 10/28/97 5.560 50,000 CP FMCC 10/28/97 5.560 50,000 CP GMAC 10/28/97 5.580 50,000 CP GMAC 10/28/97 5.580 50,000 Treas Bill 06/25/98 5.325 50,000 Treas BIII 06/25/98 5.325 50,000 Treas Bill 06/25/97 5.325 50,000 Treas BIII 06/25/97 5.325 50,000 FNMA 5.710% 06/23/98 5.866 50,000 FNMA 5.710% 06/23/98 5.866 50,000 CID, Amer EXp 10/28/97 5.550 50,000 CP Amer Exp 10/28/97 5.550 50,000 CP Amer Exp 10/28/97 5.550 50,000 06/30/97 SALE g/ CD Wachovia 5.510% 06/30/97 5.490 50,000 27 205,878.08 5.566 CD Wachovia 5.510% 06/30/97 5.490 50,000 27 205,878.08 5.566 CD Wachovia 5.510% 06/30/97 5.500 50,000 27 206,251.54 5.576 CD Wachovia 5.510% 06/30/97 5.500 50,000 27 206,251.54 5.576 CD Bkrs Trst 5.660% 06/30/97 5.650 50,000 89 698,419.81 5.728 CD Bkrs Trst 5.660% 06/30/97 5.650 50,000 89 698,419.81 5.728 SALE Treas Bill 12/11/97 5.135 25,000 192 699,500.05 5.607 Treas Bill 12/11/97 5.135 - 50,000 192 1,399,000.10 5.607 —14— LDotstccrrr dl .. .; ei MJ4TURrrY TRANS PAR.:: DAYS ANT �h . . i!i ... D►ESP10N DST€l ... . 06/23197 NO SALES PURCHASE CD Tokyo-Mits 5.840% 07/02/97 5.630 15,000 CD Montreal 5.560% 07/07/97 5.560 15,000 CD Montreal 5.560% 07/07/97 5.560 50,000 CP Conagra 07/01 /97 5.780 17,436 CP Conagra 07/02/97 5.770 39,000 CP Conagra 07/02/97 5.770 50,000 CP GMAC 07/02/97 5.510 50,000 CP GMAC 07/02/97 5.510 50,000 CP GMAC 07/02/97 5.510 50,000 CP GMAC 07-0297 5.510 50,000 CP Smith Bam 07/07/97 5.550 40,000 CP Smith Barn 07/07/97 5.550 50,000 CP Smith Barn 07/07/97 5.550 50,000 CP Morg Stan 08/11 /97 5.560 50,000 CP Morg Stan 08/11/97 5.560 50,000 CP Morg Stan 08/11 /97 5.560 50,000 CP Morg Stan 08/11 /97 5.560 50,000 Treas Note 6.875% 07/31 /99 6.035 50,000 Treas Note 6.875% 07/31 /99 6.035 50,000 Treas Note 6.875% 07/31 /99 6.035 50,000 Treas Note 6.875% 07/31 /99 6.035 50,000 06/24/97 REDEMPTION FHLB 5.865% 06/24/97 6.000 50,000 365 2,996,953.12 6.001 PURCHASE BN B/A 5.720% 12/29/97 5.720 50,000 BN B/A 5.720% 12/29/97 5.720 50,000 CD WestDeut 5.680% 12/29/97 5.680 35,000 CD WestDeut 5.680% 12/29/97 5.680 50,000 PURCHASE cl CD Dresdner 5.950% 04/13/98 5.450 41,000 Disc Note FHLB 09/17/97 5.350 1,010 Disc Note FHLB 09/17/97 5.350 4,850 Disc Note FHLB 09/17/97 5.350 50,000 Disc Note FHLB 09/17/97 5.350 50,000 Disc Note FNMA 12/04/97 5.350 50,000 FFCB 5.500% 09/02/97 5.320 40,000 FHLB 5.630% 12/24/97 5.320 45,000 FNMA 6.500% 01/27/00 5.320 15,865 Treas Note 6.000% 11 /30/97 5.300 19,466 Treas Note 6.000% 12/31/97 5.300 30,000 Treas Note 6.000% 12/31 /97 5.300 50,000 —11— OLDIINESTNIENT A�CC.UNT MATtiRITY TttANS P/�R 'DAYS DESCRiP�ION DATENIELD:;, L HfCDEAMW 06/24/97 PURCHASE g/ Treas Note 5.000% 02/15/99 5.300 1,836 Treas Note 5.000% 02/15/99 5.300 50,000 Treas Note 5.000% 02/15/99 5.300 50,000 Treas Note 6.750% 05/31 /99 5.300 50,000 06/25/97 SALE g/ CD Dresdner 5.950% 04/13/98 5.450 41,000 1 6,097.94 5.525 Disc Note FHLB 09/17/97 5.350 1,010 1 143.71 5.424 Disc Note FHLB 09/17/97 5.350 4,850 1 696.24 5.424 Disc Note FHLB 09/17/97 5.350 50,000 1 7,180.29 5.424 Disc Note FHLB 09/17/97 5.350 50,000 1 7,180.29 5.424 Disc Note FNMA 12/04/97 5.350 50,000 1 7,091.13 5.424 FFCB 5.500% 09/02/97 5.320 40,000 1 5,814.61 5.393 FHLB .5.630% 12/24/97 5.320 45,000 1 6,611.28 5.393 FNMA 01/27/00 5.320 15,865 1 2,351.88 5.393 Treas Note 6.000% 11/30/97 5.300 19,466 1 2,821.96 5.373 Treas Note 6.000% 12/31 /97 5.300 30,000 1 4,462.60 5.373 Treas Note 6.000% 12/31 /97 5.300 50,000 1 7,437.67 5.373 Treas Note 5.000% 02/15/09 5.300 1,836 1 265.88 5.373 Treas Note 5.000% 02/15/99 5.300 50,000 1 7,238.18 5.373 Treas Note 5.000% 02/15/99 5.300 50,000 1 7,238.18 5.373 Treas Note 6.750% 05/31/99 5.300 50,000 1 7,341.09. 5.373 PURCHASE BA Tokyo-Mits 08/27/97 5.630 27,400 BA Tokyo-Mits 10/01 /97 5.660 23,100 BA Tokyo-Mits 11/07/97 5.660 30,000 CID Lehman 11/26/97 5.620 20,000 OW26/97 REDEMPTION g/ CD US Wash 5.540% 06/26/97 5.540 50,000 44 338,555.56 5.616 CD US Wash 5.540% 06/26/97 5.540 50,000 44 338,555.56 5.616 BN FNB Chicago 5.560% 06/26/97 5.550 50,000 51 393,130.52 5.627 BN FNB Chicago 5.560% 06/26/97 5.550 50,000 51 393,130.52 5.627 CID Morg Stan 06/26/97 5.530 50,000 24 184,333.33 5.627 CID Morg Stan 06/26/97 5.530 50,000 24 184,333.33 5.627 CID Morg Stan 06/26/97 5.530 50,000 24 184,333.33 5.627 REDEMPTION Treas Bill 06/26/97 5.260 50,000 324 2,367,000.00 5.598 Treas Bill 06/26/97 5.260 50,000 324 2,367,000.00 5.598 Treas Bill 06/26/97 5.265 50,000 324 2,369,250.00 5.603 —12— DOIME1Ti�U NT dl' e/ MA►TE1R[TY TRANS PAR DALYS AOE}NT:::WFECTW a_ oAYIELD 00 2 �JF 06/30/97 REDEMPTION CP B/A 06/30/97 5.340 50,000 158 1,171,833.35 5.544 CP GECC 06/30/97 5.340 50,000 158 1,171,833.33 5.544 CP GECC 06/30/97 5.450 50,000 158 1,171,833.33 5.544 CP GECC 06/30/97 5.450 50,000 158 1,171,833.33 5.544 CP GECC 06/30/97 5.340 50,000 158 1,171,833.33 5.544 CP GMAC 06/30/97 5.370 50,000 160 1,193,333.33 5.577 CP GMAC 06/30/97 5.370 5,000 160 119,333.30 5.577 FHLB 4.300% 06/30/97 5.850 10,000 328 521,200.00 5.878 Disc Note FHLB 06/30/97 5.490 25,180 89 341,755.55 5.642 Disc Note FNMA 06/30/97 5.320 50,000 328 2,423,555.56 5.668 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Disc Note FNMA 06/30/97 5.330 50,000 328 2,428,111.11 5.679 Treas Note 5.625% 06/30/97 5.600 50,000 328 2,521,908.97 5.611 Treas Note 5.625% 06/30/97 5.600 50,000 328 2,521,908.97 5.611 RRP Treas Note 5.625% 06/30/97 5.275 50,000 89 (661,757.61) -5.348 Treas Note 5.625% 06/30/97 5.275 50,000 89 (661,757.61) -5.348 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 Treas Note 6.250% 05/31/99 5.150 50,000 27 (193,125.00) -5.221 PURCHASE FHLB 5.830% 06/30/98 5.874 25,850, FHLB 5.840% 06/30/98 5.874 40,000 CP GMAC 07/01/97 6.250 50,000 CP GMAC 07/01/97 6.250 50,000 CP GMAC 07/01/97 6.250 50,000 CP GECC 07/01/97 6.250 50,000 CP GECC 07/01/97 6.250 50,000 CP GECC 07/01/97 6.250 50,000 CP Enron 07/01/97 6.500 30,000 CP Lehman 07/01/97 6.375 22,339 CP Lehman 07/01/97 6.375 50,000 CP Conagra 07/02/97 6.120 30,000 CP FMCC 07/03/97 5.750 50,000 CP FMCC 07/03/97 5.750 50,000 CP Salomon 07/07/97 5.760 50,000 PURCHASE .ql CD Dresdner 5.950% 04/13/98 6.200 30,000 —17— a/ The abbreviations indicate the type of security purchased or sold; i.e., (U.S.) Bills, Bonds, Notes, Debentures, Discount Notes, and Participation Certificates: Federal National Mortgage Association 0 NMA), Farmers Home Administration Notes (FHA), Student Loan Marketing Association (SLMA), Small Business Association (SBA), Negotiable Certificates of Deposit (CD), Negotiable Certificates of Deposit Floating Rate (CD FR), Export Import Notes (EXIM), Bankers Acceptances (BA), Commercial Paper (CP), Government National Mortgage Association (GNMA), Federal Home Loan Bank. Notes (FHLB), Federal Land Bank Bonds (FLB), Federal Home Loan Mortgage Corporation Obligation (FHLMC PC) & (FHLMC GMC), Federal Farm Credit Bank Bonds (FFCB), Federal Farm Credit Discount Notes (ETC), Corporate Securities (CB), U.S. Ship Financing Bonds (TITLE MIS), International Bank of Redevelopment (IBRD), Tennessee Valley Authority (TVA) Medium Term Notes (MTN). b/ Purchase or sale yield based on 360 day calculation for discount obligations and Repurchase Agreements. c/ Repurchase Agreement. d/ Par amount of securites purchased, sold, or redeemed. e/ Securities were- purchased and sold as of the same dale. f/ Repurchase Agreement against Reverse Repurchase Agreement. 9/ Outright purchase against Reverse Repurchase Agreement. b/ Security "SWAP" transactions. i/ Buy back agreement. RRS Reverse Repurchase Agreement. RRP Termination of Reverse Repurchase Agreement. -18- rfAtm 14-m.AUNT id( �i a/ MATUR TY TRANS : - PAR DAMS . A#ROEIINT FFECTJ11E DESCRIPTION DA NIEi:D 06/30/97 REDEMPTION BA Tokyo-Mits 06/30/97 5.570 17,100 26 68,789.50 5.670 BA Tokyo-Mits 06/30/97 5.630 10,650 76 126,581.17 5.776 BN NBDetroit 5.360% 06/30/97 5.370 32,000' 123 587,100.30 5.444 BN B/A 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 BN B/A 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 BN B/A 5.660% 06/30/97 5.660 50,000 328 2,578,444.44 5.738 BN B/A 5.660% 06/30/97 5.660 50,000 328 2,578,444.44 5.738 CD Montreal 5.560% 06/30/97 5.560 50,000 31 239,388.89 5.637 CD Montreal 5.560% 06/30/97 5.560 50,000 31 239,388.89 5.637 CD WestDeut 5.570% 06/30/97 5.570 50,000 31 239,819.44 5.647 CD WestDeut 5.570% 06/30/97 5.570 50,000 31 239,819.44 5.647 CD WestDeut 5.570% 06/30/97 5.570 50,000 31 239,819.44 5.647 CD Stan Chart 5.560% 06/30/97 5.550 30,000 60 277,504.58 5.627 CD Stand Chart 5.560% 06/30/97 5.550 50,000 60 462,507.63 5.627 CD Stand Chart 5.560% 06/30/97 5.550 50,000 60 462,507.63 5.627 CD Mellon 5.600% 06/30/97 5.600 50,000 60 466,666.67 5.677 CD Barclays 5.600% 06/30/97 5.600 50,000 67 521,111.11 5.677 CD Barclays 5.600% 06/30/97 5.600 50,000 67 521,111.11 5.677 CD Cr Agricole 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Cr Agricole 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Hong Kong 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Hong Kong 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Midland 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD Midland 5.580% 06/30/97 5.580 50,000 70 542,500.00 5.657 CD BN Paris 5.610% 06/30/97 5.590 25,000 70 271,746.56 5.667 CD BN Paris 5.610% 06/30/97 5.590 50,000 70 543,493.13 5.667 CD US Oregon 5.590% 06/30/97 5.590 50,000 70 543,472.22 5.667 CD Wachovia 5.590% 06/30/97 5.580 50,000 70 542,510.43 5.657 CD Barclays 5.600% 06/30/97 5.590 50,000 70 543,482.67 5.667 CD Barclays 5.600% 06/30/97 5.590 50,000 70 543,482.67 5.667 CD Wachovia 5.320% 06/30/97 5.320 50,000 126 923,611.11 5.393 CD Barclays 5.330% 06/30/97 5.330 50,000 130 962,361.11 5.404 CD Midland 5.375% 06/30/97 5.375 50,000 136 1,015,277.78 5.449 CD Midland 5.375% 06/30/97 5.375 50,000 136 1,015,277.78 5.449 CD CIBC 5.400% 06/30/97 5.400 45,000 146 985,500.00 5.475 CD Nova Scotia 5.410% 06/30/97 5.410 50,000 151 1,134,597.22 5.485 CD Nova Scotia 5.410% 06/30/97 5.410 50,000 151 1,134,597.22 5.485 CD Mellon 5.400% 06/30/97 5.400 50,000 158 1,185,000.00 5.475 CD Montreal 5.480% 06/30/97 5.480 20,000 160 487,111.11 5.556 CD Svenska 5.480% 06/30/97 5.480 100,000 172 2,618,222.22 5.556 CD Dresdner 5.650% 06/30/97 5.640 25,000 328 1,284,777.99 5.718 CD RB Canada 5.650% 06/30/97 5.640 50,000 328 2,569,555.99 5.718 CD Tokyo-Mits 5.760% 06/30/97 5.760 100,000 328 5,248,000.00 5.840 CD Hong Kong 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 CD Hong Kong 5.650% 06/30/97 5.650 50,000 328 2,5739888.89 5.728 CD Midland 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 CD Midland 5.650% 06/30/97 5.650 50,000 328 2,573,888.89 5.728 CD Union 5.680% 06/30/97 5.680 50,000 328 2,587,555.56 5.758 CP GECC 06/30/97 5.480 50,000 24 182,666.67 5.576 CP GECC 06/30/97 5.480 5,000 24 18,266.67 5.576 -15- OfI:E'�'MEi�ITCtINT - af_ a/ MATURITY TRANS . PAR DAYS A#I WNT EFFEC M E3/� DESCRIPT�oN DATE Yi �QMW EARNED . _:._... 06/30/97 REDEMPTION CID Household 06/30/97 5.500 50,000 26 198,611.10 5.598 CID Household 06/30/97 5.500 10,000 26 39,722.22 5.598 CID Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CID Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CID Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CID Amer Exp 06/30/97 5.520 50,000 26 199,333.33 5.619 CID GMAC 06/30/97 5.540 30,000 31 143,116.67 5.643 CID GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CID GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CID GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CID GECC 06/30/97 5.560 50,000 60 463,333.33 5.689 CID Merrill 06/30/97 5.580 25,000 60 232,500.00 5.710 CID Merrill 06/30/97 5.580 50,000 60 465,000.00 5.710 CID Lehman 06/30/97 5.600 50,000 60 466,666.67 5.731 CP Lehman 06/30/97 5.600 50,000 60 466,666.67 5.731 CID Hertz 06/30/97 5.570 50,000 70 541,527.78 5.709 CID Amer Exp 06/30/97 5.520 50,000 73 559,666.67 5.660 CID Amer Exp 06/30/97 5.520 50,000 73 559,666.67 5.660 CID GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CID GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CP GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CID GECC 06/30/97 5.550 50,000 73 562,708.33 5.691 CP FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CID FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CID FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CID FMCC 06/30/97 5.570 50,000 73 564,736.11 5.711 CID FMCC 06/30/97 5.570 50,000 74 572,472.22 5.713 CP FMCC 06/30/97 5.570 50,000 74 572,472.22 5.713 CID Heller 06/30/97 5.650 30,000 76 357,833.33 5.797 CP Assoc 06/30/97 5.340 50,000 119 882,583.33 5.511 CID Assoc 06/30/97 5.340 50,000 119 882,583.33 5.511 CP Salomon 06/30/97 5.530 50,000 119 913,986.11 5.711 CID Salomon 06/30/97 5.530 50,000 119 913,986.11 5.711 CP Merrill 06/30/97 5.350 50,000 119 884,236.10 5.521 CID Merrill 06/30/97 5.350 50,000 119 884,236.10 5.521 CID B/A 06/30/97 5.250 25,000 131 477,604.17 5.426 CID FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CID FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CID FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CID GMAC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CID GMAC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CID FMCC 06/30/97 5.300 50,000 144 1,060,000.00 5.489 CID FMCC 06/30/97 5.300 25,000 145 . 533,680.56 5A90 CID FMCC 06/30/97 5.300 50,000 145 1,067,361.11 5.490 CID FMCC 06/30/97 5.300 50,000 145 1,067,361.11 5.490 CID Amer Exp 06/30/97 5.310 50,000 147 1,084,125.00 5.503 CID Amer Exp 06/30/97 5.310 50,000 147 1,084,125.00 5.503 CID Amer Exp 06/30/97 5.310 50,000 147 1,084,125.00 5.503 CID Amer Exp 06/30/97 5.310 50,000 147 1,084,125.00 5.503 CID Bear 06/30/97 5.380. 35,000 158 826,427.77 5.586 -16— NAME ALHAMBRA East West Federal Bank BEVERLY HILLS City National Bank City National Bank City National Bank City National Bank CHICO North State National Bank North State National Bank North State National Bank Tri Counties Bank GLENDALE Glendale Federal Bank INGLEWOOD Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank Imperial Bank LA MIRADA Southern California Bank Southern California Bank LOS ANGELES Glendale Federal Bank Preferred Bank Preferred Bank Preferred Bank Preferred Bank Preferred Bank Preferred Bank TIME DEPOSIT DEPOSIT DATE YIELD PAR AMOUNT ($) MATURITY DATE 04/16/97 1 -`5330 2,000,000.00 07/17/97 01 /28/97 5.350 10,000,000.00 07/29/97 02/19/97 5.200 20,000,000.00 08/19/97 02/21 /97 5.390 20,000,000.00 12/18/97 05/06/97 5.580 10,000,000.00 11 /04/97 02/25/97 5.270 500,000.00 08/26/97 04/08/97 5.530 2,000,000.00 10/06/97 06/13/97 4.990 500,000.00 09/11 /97 06/26/97 5.310 15,000,000.00 01 /02/97 06/30/97 5.160 3,000,000.00 09/29/97 04/02/97 5.380 11,000,000.00 07/01 /97 04/16/97 5.350 25,000,000.00 07/17/97 04/29/97 5.380 5,000,000.00 07/29/97 05/06/97 5.300 10,000,000.00 08/05/97 05/08/97 5.300 20,000,000.00 08/07/97 05/14/97 5.210 20,000,000.00 08/13/97 06/10/97 5.110 10,000,000.00 09/10/97 06/11 /97 5.110 15,000,000.00 09/10/97 06/18/97 5.000 11,000,000.00 09/18/97 04/03/97 5.390 5,000,000.00 07/08/97 04/16/97 5.360 5,000,000.00 07/17/97 04/11/97 5.280 5,000,000.00 07/11/97 04/15/97 5.310 3,000,000.00 07/15/97 05/21 /97 5.230 4,000,000.00 08/20/97 05/27/97 5.150 2,000,000.00 08/26/97 06/17/97 4.960 5,000,000.00 09/16/97 06/17/97 4.960 4,000,000.00 09/18/97 06/27/97 5.140 3,000,000.00 09/25/97 —19— NAME OAKDALE Oak Valley Community Bank POMONA Pomona First Federal S&L PLACER Sierra West Bank PETALUMA Bank of Petaluma SACRAMENTO Sanwa Bank of California Sanwa Bank of California Sanwa Bank of California Union Bank of California Sanwa Bank of California SAN DIEGO San Diego First Bank Bank of Commerce San Diego SAN FRANCISCO Bank of Canton California Bank of Canton California Trans Pacific National Bank Bank of Canton California Bank of Canton California Bank of Canton California SAN LEANDRO Bay Bank of Commerce TIME DEPOSIT DEPOSIT DATE YIELD PAR AMOUNT ($) MATURITY DATE 03/25/97 5.580 05/27/97 5.550 06/06/97 5.480 02/11 /97 5.290 500,000.00 09/22/97 8,000,000.00 11 /25/97 2,800,000.00 12/03/97 1,000,000.00 08/12/97 01 /28/97 5.370 5,000,000.00 07/29/97 02/19/97 5.250 50,000,000.00 08/19/97 02/25/97 5.280 10,000,000.00 08/26/97 05/07/97 5.260 100,000,000.00 08/06/97 05/09/97 5.600 7,000,000.00 11 /05/97 06/03/97 5.160 1,500,000.00 09/03/97 06/13/97 5.030 14,000,000.00 09/18/97 02/13/97 5.300 5,000,00.0.00 08/13/97 03/04/97 5.440 5,000,000.00 09/04/97 03/18/97 5.680 800,000.00 09/16/97 04/22/97 5.630 5,000,000.00 10/21 /97 05/07/97 5.210 5,000,000.00 08/07/97 06/10/97 5.090 5,000,000.00 09/10/97 04/07/97 5.300 2,000,000.00 07/07/97 —20— TIME DEPOSIT NAME DEPOSIT' DATE YIELD PAR AMOUNT !$1 MATURITY DATE SAN LUIS OBISPO First Bank of San Luis Obispo 04/08/97 First Bank of San Luis Obispo 05/06/97 First Bank of San Luis Obispo 05/06/97 First Bank of San Luis Obispo 05/14/97 First Bank of San Luis Obispo 05/28/97 SAN RAFAEL West America Bank 04/23/97 West America Bank 04/30/97 SANTA ANA Grand National Bank 04/01/97 Grand National Bank 06/10/97 Grand National Bank 06/12/97 STANISLAUS North Valley Bank 03/25/97 TUSTIN Sunwest Bank 06/23/97 VACAVILLE Continental Pacific Bank 06/03/97 VICTORVILLE Citizens Business Bank 06/13/97 Citizens Business Bank 06/13/97 TOTAL TIME DEPOSITS AS OF JUNE 30,1997 5.320 1,000,000.00 07/08/97 5.230 1,000,000.00 08/06/97 5.250 2,600,000.00 08/06/97 5.190 2,000,000.00 08/13/97 5.170 2,500,000.00 08/27/97 5.370 25,000,000.00 07/23/97 5.350 25,000,000.00 07/30/97 5.350 95,000.00 07/01 /97 5.410 1,500,000.00 12/09/97 5.080 1,500,000.00 09/10/97 5.580 3,000,000.00 09/22/97 5.600 500,000.00 09/23/97 5.180 1,000,000.00 09/03/97 5.050 10,000,000.00 09/11/97 5.430 10,000,000.00 12/10/97 $560,295,000.00 —21— DEMAND BANK DEPOSITS (000 omitted) DAILY BALANCES WARRANTS JUKE PER BANKS OUTSTANDING 1. $2939102 39759,121 2. 5309934 391609465 3. 5559569 390309844 4. 3479632 39,045,347 5. 3389247 39094,821 6. 2709548 29874,361 7. 270,548 29874,361 8. 2709548 29874,361 9. 3659744 21,6799821 10. 4889993 296469524 11. 4299664 29626445 12. 3919517 298439653 13. 502,736 297569858 14. 5023,736 29756,858 15. 5029736 297569858 16. 4459709 29864,715 17. 3079038 2,7439633 18. 608,974 29629,335 19. 2209257 295909050 20 3499834 29594,125 21. 3499834 295949125 22. 3499834 295949125 23. 2089817 29,3499248 24. 1789092 292439498 25. 6089255 2,3989528 26. 423,812 29622,987 27. 3059807 29810,383 28. 3059807 298109,383 29. 3059807 2,8109383 30. 1049462 2,4519111 al AVERAGE DOLLAR DAYS $3719120 a/ The prescribed bank balance for June was $316,373,000.00. This consisted of $14096759000.00 in compensating balances for services, $182,341,000.00 uncollected funds and a deduction of $6,643,000.00 for February delayed deposit credit. —22— DESIGNATION BY POOLED MONEY INVESTMENT BOARD OF TREASURY POOLED MONEY INVESTMENTS AND DEPOSITS No. 1576 In accordance with sections 16480 through 16480.8 of the Government Code, the Pooled Money Investment Board, at its meeting on June 18, 1997, has determined and designated the amount of money available for deposit and investment under said sections. In accordance with sections 16480.1 and 16480.2 of the Government Code, it is the intent that the money available for deposit or investment be deposited in bank accounts and savings and loan associations or invested in securities in such a manner so as to realize the maximum return consistent with safe and prudent treasury management, and the Board does hereby designate the amount of money available for deposit in bank accounts, savings and loan associ- ations, and for investment in securities and the type of such deposits and investments as follows: 1. In accordance with law, for deposit in demand bank accounts as Compensating Balance for Services $ 137,672,000 The active noninterest-bearing bank accounts designation constitutes a calendar -month average balance. For purposes of computing the compensating balances, the Treasurer shall exclude from the daily balances any amounts contained therein as a result of nondelivery of securities purchased for "cash" for the Pooled Money Investment Account and shall adjust for any deposits not credited by the bank as of the date of deposit. The balances in such accounts may fall below the above amount provided that the balances computed by dividing the sum of daily balances of that calendar month by the number of days in the calendar month reasonably approximates that amount. The balances may exceed this amount during heavy collection periods or in anticipation of large impending warrant presentations to the Treasury, but the balances are to be maintained in such a manner as to realize the maximum return consistent with safe and prudent treasury management. 2. In accordance with law, for investment in securities authorized by section 16430, Government Code, or in term interest - bearing deposits in banks and savings and loan associations as follows: Time Deposits in various Financial Institutions In Securities (sections 16503a Estimated From To Transactions (section 16430)* and 16602)* Total (1) 06/16/97 06/20/97 $ 1,897,000,000 $ 31,481,705,000 $ 539,295,000 $ 32,021,000,000 (2) 06/23/97 06/27/97 $ 2,130,800,000 $ 33,612,505,000 $ 539,295,000 $ 34,151,800,000 (3) 06/30/97 07/04/97 $ (6,596,300,000) $ 27,016,205,000 $ 539,295,000 $ 27,555,500,000 (4} 07/07/97 07/11/97 $ 288,200,000 $ 27,304,405,000 $ 539,295,000 $ 27,843,700,000 (5) 07/14/97 07/18/97 $ 716,900,000 $ 28,021,305,000 $ 539,295i000 $ 28,560,600,000 (6) 07/21/97 07/25/97 $ 684,300,000 $ 28,705,605,000 $ 539,295,000 $ 29,244,900,000 (7) 07/28/97 08/01/9.7 $ (25,800,000) $ 28,679,805,000 $ 539,295,000 $ 29,219,100,000 (8) 08/04/97 08/08/97 $ 108,000,000 $ 28,787,805,000 $ 539,295,000 $ 29,327,100,000 (9) 08/11/97 08/15/97 $ 173,300,000 $ 28,961,105,000 $ 539,295,000 $ 29,500,400,000 (10) 08/18/97 08/22/97 $ 1,211,600,000 $ 30,172,705,000 $ 539,295,000 $ 30,712,000,000 From any of the amounts specifically designated above, not more than 30 percent in the aggregate may be invested in prime commercial paper under section 16430(e), Government Code. Additional amounts available in treasury trust account and in the Treasury from time to time, in excess of the amounts and for the same types of investments as specifically designated above. Provided, that the availability of the amounts shown under paragraph 2 is subject to reduction in the amount by which the bank accounts under paragraph 1 would otherwise be reduced below the calendar month average balance of $ 137,672,000. Dated: June 18, 1997 *Government Code —23—