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Investment Advisory Board agendas and
4
C7T T��'� staff reports are now available on the
City's web page: www.la-quinta.org
INVESTMENT ADVISORY BOARD
AGENDA
CITY HALL CAUCUS ROOM
78-495 Calle Tampico, La Quinta
REGULAR MEETING on WEDNESDAY, SEPTEMBER 11, 2013 AT 4:00 P.M.
CALL TO ORDER
1 . Pledge of Allegiance
2. Roll Call
PUBLIC COMMENT
At this time members of the public may address the Board on any matter not listed on the
agenda. Please complete a "Request to Speak" form and limit your comments to three
minutes.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. Approval of the Minutes of August 14, 2013
CONSENT CALENDAR
1. Receive and File Treasurer's Report for June 30, 2013
BUSINESS SESSION - None
CORRESPONDENCE AND WRITTEN MATERIALS
1, Month End Cash Report for July 2013 and the Pooled Money Investment Board
Report for July 2013
INVESTMENT ADVISORY BOARD AGENDA 1 September 11, 2013
BOARD MEMBER ITEMS — None
ADJOURNMENT
The next regular meeting of the Investment Advisory Board will be held on October 9,
2013, commencing at 4:00 p.m. in the Caucus Room, 78-495 Calle Tampico, La Quinta,
CA 92253.
DECLARATION OF POSTING
I, Vianka Orrantia, Senior Secretary, of the City of La Quinta, do hereby declare that the
foregoing Agenda for the La Quinta Investment Advisory Board meeting was posted on the
outside entry to the Council Chamber at 78-495 Calle Tampico, and the bulletin boards at
78-630 Highway 1 1 1, and the La Quinta Cove Post Office at 51-321 Avenida Bermudas,
on September 5, 2013.
DATED: September 5, 2013
VIANKA ORRANTIA, Senior Secretary
City of La Quinta, California
Public Notices
The La Quinta Caucus Room is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City
Clerk's office at 777-7123, twenty-four (24) hours in advance of the meeting and accommodations will be made.
If special electronic equipment is needed to make presentations to the City Council, arrangements should be made in advance by
contacting the City Clerk's office at 777-7123. A one (1) week notice is required.
If background material is to be presented to the Investment Advisory Board during a Investment Advisory Board meeting, please be
advised that five (5) copies of all documents, exhibits, etc., must be supplied to the Senior Secretary for distribution. It is requested
that this take place prior to the beginning of the meeting.
Any writings or documents provided to a majority of the Investment Advisory Board regarding any item(s) on this agenda will be made
available for public inspection at the City Clerk's counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253,
during normal business hours.
INVESTMENT ADVISORY BOARD AGENDA 2 September 11, 2013
INVESTMENT ADVISORY BOARD
MINUTES
WEDNESDAY, AUGUST 14, 2013
CALL TO ORDER
A regular meeting of the La Quinta Investment Advisory Board was called to order
at 4:00 p.m. by Chairman Blum.
PRESENT: Board Members Donais, Blum, Spirtos and Mortenson (via
teleconference call)
ABSENT: Board Member Park
STAFF PRESENT: Finance Director, Robbeyn Bird, and Senior Secretary, Vianka
Orrantia
APPOINTMENT OF OFFICERS
1. Appointment of Investment Advisory Board Chairperson
Chairman Blum opened nominations for Chairperson. Board Member Spirtos
nominated Board Member Mortenson for the position of Chairperson.
With no other nominations, Chairman Blum closed the nominations.
Board Member Mortenson was unanimously elected as Chair.
2. Appointment of Investment Advisory Board Vice -Chairperson
Board Member Spirtos opened nominations for Vice -Chairperson and nominated
Board Member Donais for the position of Vice -Chairperson.
With no other nominations, Chairman Mortenson closed the nominations.
Board Member Donais was unanimously elected as Vice -Chair.
PUBLIC COMMENT — None
INVESTMENT ADVISORY MINUTES 1 August 14, 2013
CONFIRMATION OF AGENDA — Confirmed
APPROVAL OF MINUTES
Approval of the Minutes of June 12, 2013
Motion — A motion was made by Board Members Blum/Spirtos to approve the
Minutes of June 12, 2013. Motion passed unanimously.
CONSENT CALENDAR ITEMS
1. Transmittal of Treasury Report for May 31, 2013
Ms. Bird presented and reviewed the staff report for the month of May.
Motion — A motion was made by Board Members Spirtos/Blum to review, receive
and file the Treasurer's Report for May 31, 2013. Motion passed unanimously.
BUSINESS SESSION
1. Consideration of Fiscal Year 2013/2014 Meeting Schedule
Motion - It was moved by Board Members Blum/Donais to accept the Fiscal Year
2013/2014 Meeting Schedule as presented. Motion carried unanimously.
CORRESPONDENCE AND WRITTEN MATERIAL
1. Month End Cash Report, June 2013 and the Pooled Money Investment Board
Reports for May 2013 and June 2013
Noted and Filed
2. Distribution of Investment Policy for Fiscal Year 2013/2014
Noted and Filed
BOARD MEMBER ITEMS
In response to Chairman Mortenson, Ms. Bird summarized for the Board
Councilmen Osborne's request to revisit the possible use of a Money Manager, the
INVESTMENT ADVISORY MINUTES 2 August 14, 2013
Board's and staff's view on the use of a Money Manager and the Council's decision
not to use a Money Manager at this time.
ADJOURNMENT
There being no further business, it was moved by Board Members Blum/Donais to
adjourn this meeting at 4:24 p.m. Motion passed unanimously.
Resp;eatfully s b ' �'d '
Vianka Orran ia;�Senior Se retarryy—
City of La Quinta, California
INVESTMENT ADVISORY MINUTES 3 August 14, 2013
INVESTMENT ADVISORY BOARD CONSENT CALENDAR
ITEM 1
Meeting Date: September 11, 2014
ITEM TITLE:
Transmittal of Treasury Report
for June 30, 2013
BACKGROUND:
Attached please find the Treasury Report for June 30, 2013.
RECOMMENDATION:
Review, Receive and File the Treasury Report for June 30, 2013.
a (3_,�_.
Robbeyn q3ird, Finance Director
ATTACHMENT 1
u
MEMORANDUM
TO: La Quinta City Council
FROM: Robbeyn Bird, Finance Director/Treasurer
SUBJECT: Treasurer's Report for June 30, 2013
DATE: July 31, 2013
Attached is the Treasurer's Report for the month ending June 30, 2013. The report is submitted to
the City Council each month after a reconciliation of accounts is accomplished by the Finance Department.
The following table summarizes the changes in investment types for the month:
Investment
Beginning
Purchased
Notes
Sold/Matured
Other
Ending
Chan e
LAIF
Interest bearing active bank deposit
Certificates of Deposit
US Treasuries
US Gov't Sponsored Enterprises
Commercial Paper
Corporate Notes
Mutual Funds
35.801,132
39,947,649
1,680,000
40,992,192
28,000,000
-
2,412,269
$ 14,000,000
7,907
10,000,000
15,000,000
801,828
1
$ (13,000,000)
(240,000)
(10,800,000)
0
0
(403)
(57,901)
0
984
$ 36,801,132
39,955,556
1,440,000
40,191,789
42,942,099
0
0
3,215,081
1,000,000
7,907
(240,000)
(800,403)
14,942,099
0
0
802,812
Subtotal
$ 148,833,242
$ 39.809,735
$ 24,040,000
$ 57,320)
$ 164,545,657
$ 15.712.415
Cash $ 706,238 1 & (3) $ 633,462 $ 72,776 $ (633,462
Total $ 149.539.480 $ 39.809.735 1 1 $ (24.673.462)1 $ (57,320)1 $ 164,618,433 $ 15,078,953
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 Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York
Monthly Custodian Report to determine the fair market value of investments at month end.
r Dater j
Robbeyn fair
Finance Director/Treasurer
Footnote
(1) The amount reported represents the net increase (decrease) of deposits and withdrawals from
the previous month.
(2) The amount reported in the other column represents the amortization of premium/discount for the
month on US Treasury, Commercial Paper and Agency investments.
(3) The cash account may reflect a negative balance. This negative balance will be offset with transfers from other investments
before warrants are presented for payment by the payee at the bank.
2
Treasurer's Commentary
For the Month of June 2013
Cash Balances - The portfolio size increased by approximately $15.1 million to end the month
at $164.62 million. The major reason for the increase was due to the receipt of property tax
received from the County of Riverside in the amount of $13.5 million and $1.6 million in sales
tax.
Investment Activity - The investment activity resulted in an average maturity increase of 23
days from the prior month to end the month of June at 212 days. The Treasurer follows a
buy and hold investment policy.
During the month of June, the LAIF account increased by $1.0 million. The sweep account
earned $14 in interest income for the month of June and the bank fees for the month were
$1,693, which resulted in a net decrease of $1,679 in real savings.
Portfolio Performance - The overall portfolio performance remained the same as the prior
month and ended at .23%, with the pooled cash investments at .30%. The portfolio yield
should continue to stay at these levels for the near future. At this time last year, the portfolio
was yielding .43%, which reflects the current interest rate environment.
Looking Ahead
In the short term, the Treasurer will be investing in negotiable certificates of deposit,
Government Sponsored Enterprises (GSE) paper and rolling over bond proceeds and reserves
into U.S. Treasury bills or notes.
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Comparative Rates of Interest
June 30, 2013
City of La
Quinta
Annualized
Eamin
Average
Treasury Bills/Note
Pooleal Cash
I Fiscal Agent
Overall
Three Month
- 1.70%
S- Month
One Year
Two Year
Year
Month
Maturity, (da. f
FY08/09
July2008
2.99%
1.93%
2.77%
52
1.88%
2.29%
2.75%
August2008
3.16%
1.92%
2.88%
51
1.69%
1.89%
2.14%
2.38%
Sept2008
2.81%
1.92%
2.64%
37
1.42%
1.79%
1.96%
2.00%
Oct2008
2.66 %
2.61 %
2.61 %
29
0.90 %
1.40 %
1.72 %
1.50 %
Nov 2008
2.38 %
2.36 %
2.36 %
64
0.15 %
0.49%
1.04 %
1.25
Dec 2008
1.60 %
0,18%
1.42%
116
0.05%
0.25%
0.59%
0.88
Jan 2009
1.36%
0..18%
1.23%
82
0.15%
0.35%
0.43%
0.88%
Feb 2009
1,23 %
0.18%
1.11 %
75
0.30%
0.50%
0.61 %
0.88
Mar2009
1.26%
0.18%
1.13%
69
0.20%
0.42%
0.70%
0.88%
Apr2009
0.94%
0.18%
0.85%
54
0.31%
0.33%
0.59%
0.88%
May 2009
0.92%
0.18%
0.84%
80
0.18%
0.30%
0.53%
0.88%
June 2009
0.85%
0.29%
0.80%
111
0.20%
0.35%
0.55%
1.13%
FY 09/10
July 2009
0.69%
0.30%
0.65 %
111
0.19 %
0.28%
0.47%
1.00%
August2009
0.64%
0.30%
0.61 %
92
0.16%
0.26%
0.46%
1.00%
Sept2009
0.56%
0.31 %
0.53%
112
0.12%
0.19%
0.41%
1.00%
Oct 2009
0.52 %
0.31 %
0.50%
90
0.08%
0.19%
0.38%
1.00%
Nov 2009
0.56%
0.31%
053%
152
0.04%
0.14%
0.32%
0.75%
Dec 2009
0.56%
0.15%
0.51%
239
0.11%
0.20%
0.16%
1.00%
Jan 2010
0.46%
0.15%
0.43%
179
0.06%
OA4%
0.34%
0.88%
Feb 2010
0.51%
0.16%
0.48%
162
0.13%
0.19%
0.32%
0.88%
Mar 2010
0.50%
0.16%
0.47%
172
0.15%
0.24 %
0.38%
1.00%
Apr 2010
0.52 %
0.16 %
0.48%
162
0.15%
0.24 %
0.49%
1.00%
May 2010
0.52 %
0.16%
0.48%
116
0-17 %
0.22%
0.37%
0.75
June 2010
0.30%
0.07%
0.23%
134
OA6%
0.22%
0.32%
0.63%
FY10/11
July2010
0.50%
0.15%
0.47%
119
0.16%
0.20%
0.30%
0.63%
August 2010
0.49%
0.15%
0..46%
108
0.15%
0.19%
0.26%
0.38%
Sept2010
0.55%
0.15%
0.51%
107
0.16%
0.19%
0.27%
0.38%
Oct2010
0.55%
0.15%
0.51%
88
0.13%
0.17%
0.23%
0.38%
Nov 2010
0.53%
OA 5 %
0.49%
84
0.18%
0.21 %
0.28 %
0.50%
Dec 2010
0.57 %
0.14%
0.52 %
265
0.15%
OA 9%
0.30%
0.63%
Jan2011
0.51%
0.14%
0.43%
206
0.16%
0.18%
028%
0.63%
Feb 2011
0.55%
0.17%
0.46%
210
0.15%
0.17%
0.31 %
0,63
Mar 2011
0,54 %
0.17%
0,45 %
218
0.05 %
0.13%
0.26%
0.75
Apr2011
0.59%
0.17%
0.48%
192
0.05%
0.10%
0.28%
0.63%
May2011
0.48%
0.17%
0.41%
156
0.06%
0.12%
0.20%
0.50%
June2011
0.53%
0.00%
0.35%
126
0.03%
0.10%
0.20%
0.38%
FY11/12
July2011
0.53%
0.00%
0.35%
112
0.07%
0.12%
0.15%
020%
August 2011
0.60 %
0.00%
0.38%
102
0.02 %
OA5%
0.10%
0.13%
Sept2011
0.58%
0.03%
0.39%
124
0.02%
0.06%
0.09%
0.13%
Oct 2011
0.53 %
0.03 %
0.35 %
117
0 01 %
0.06%
0.12%
0.25%
Nov2011
0.52%
0.03%
0.37%
94
003%
0.07%
0.10%
0.25%
Dec2011
0.48%
0.03%
0.35%
86
0.02%
0.06%
0.11%
0.13%
Jan2012
0.45%
0.03%
0.34%
74
0.05%
0.08%
0.11%
0.25%
Feb2012
0.49%
0.05%
0.36%
72
0.12%
0.15%
0.17%
0.25%
Mar 2012
0.44%
0.05%
0.34%
74
0.08%
0.14%
0.19%
0.25%
Apr2012
0.44%
0.09%
0.35%
61
0.10%
0.15%
0.19%
0.25%
May 2012
0.43%
0.09%
0.34 %
62
0.09%
0.14%
0.19%
0.25%
June2012
0.38%
0.08%
0.29%
47
0.10%
0.15%
0.21%
0.25%
FY12/13
July2012
0.41%
0.08%
0.31%
112
0.11%
0.15%
0.18%
0.22%
August2012
0.41%
0.08%
029%
31
0.11%
0.14%
0.20%
0.25%
Sept2012
0.43%
0.09%
0.33%
34
0.11%
0.14%
0.18%
0.25%
Oct2012
0.47%
0.10%
0.36%
22
013%
0.16%
0.18%
0.25%
Nov2012
0.48%
0.10%
0.36%
161
0.10%
0.15%
0.18%
0.25%
Dec2012
0.47%
0.10%
0.36%
137
0.08%
0.12%
0.16%
0.13%
Jan2013
0.44%
0.10%
0.34%
111
0.08%
0.11%
0.14%
025%
Feb2013
0.37%
0.10%
0.29%
105
0.13%
0.14%
0.15%
0.25%
Mar2013
0.39%
0.09%
0.30%
123
0.08%
0.11%
0.15%
0.25%
Apr2013
0.31%
0.08%
0.25%
186
0.05%
0.08%
0.14%
0.13%
May2013
0.30%
0.06%
0.23%
175
0.05%
0.08%
0.14%
0.25%
June2013
0-30%
0,07%
-023%
212
0.05%
0,09% 1
0.16 %
0.38%
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10
INVESTMENT ADVISORY BOARD
Meeting Date: September 11, 2014
TITI F-
CORRESPONDENCE AND
WRITTEN MATERIAL ITEM 1
Month End Cash Report for July 2013 and the Pooled Investment Board Report for
July 2013
BACKGROUND:
The July 31, 2013 Month End Cash Report is hereby submitted for your review.
This cash report is not a complete Treasury Report and excludes petty cash,
deferred compensation and fiscal agent balances. Selected cash balances are
reported to provide current cash balances to the Board.
In addition, the Pooled Money Investment Board Report for July 2013, summary
pages have been attached for the Board's review. A complete copy is available for
review upon request.
RECOMMENDATION:
Receive & File
Robbeyn"Bird, Finance Director
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Bill Lockyer, State Treasurer
Inside the State Treasurer's Office
Local Agency Investment Fund (LAIF)
LAW CONFERENCE INFORMATION
PMIA Performance Report
Date
Daily
Yield'
Quarter to
bate Yield
Average
Maturity
in days)
8/16/2013
0.27
0.27
276
8/17/2013
0.27
0.27
276
8/18/2013
1 0.27
0.27
276
8/19/2013
0.27
0.27
272
8/20/2013
0.27
0.27
271
8/21 /2013
0.27
0.27
274
8/22/2013
0.26
0.27
266
8/23/2013
1 0.26
0.27
257
8/24/2013
0.26
0.27
257
8/25/2013
0.26
0.27
257
8/26/2013
0.25
0.27
261
8/27/2013
0.25
0.27
257
8/28/2013
1 0.251
0.271
260
8/29/2013
1 0.251
0.271
262
"Daily yield does not reflect capital gains or losses
0
LAIF Performance Report
Quarter ending 06/30/2013
Apportionment Rate:
Earnings Ratio:
Fair Value Factor:
Daily:
Quarter To Date:
Average Life:
0.24%
.00000667321954799
1.000273207
0.25%
0.25%
278
PMIA Average Monthly Effective Yields
JULY 2013 0.267%
JUNE 2013 0.244%
MAY 2013 0.245%
Pooled Money Investment Account
Portfolio Composition
$54.7 Billion
07/31 /13
Loans
Commercia10.04%
2.43°i
Time Depos
8.08%
CDs/BNs
7.63%
Agencies
8.15%
Mort[
0.3
Treasuries
63.34%
3
Recent Bill Auction Results
Page 1 of 1
TreasuryDirect
Home > In„dllutio0al
> gpnounr met_,,P,gtj & Result, > LdSest AuctWn, Qgt& • Ilak t UIII ALP 0Inn Ik,: Ukm
Recent
Bill Auction Results
Security
Issue
Maturity
Dlswunt
Investment
Price
GUSIP
Perm
Date
Date
Rate %
Rate %
Par $100
11-DAY
09-05-2.013
09-16.2013
0.030
0,030
99 999083
912.796FI8
4-WEEK
09-05-2013
10-03-2013
0.020
0.020
99.998444
912796BD0
13-WEEK
09.05-2013
12-05-2013
0.030
0.030
99.992417
912796BNS
26-WEEK
09-0-2013
03-06-2014
0 055
0.056
99.972194
912796AW9
14-DAY
08-29-2013
09-12-2013
0.035
0.035
99.998639
912796BB4
4-WEEK
08-29-2013
09-26-2013
0.040
0.D41
99.996889
912796SC2
13-WEEK
08-29-2013
11-29-20.13
0.040
0.04.1
99.989778
912796BM0
26-WEEK
08-29-2013
02-27-2014
0.065
0.066
99.967139
912796CA5
4-WEEK
08-22-2013
09-19-2013
0.045
0.046
99.996500
9127957KI
13-WEEK
08-22-2013
11-21-2013
0.050
0.051
99.987361
9127968t2
26-WEEK
08-22 2013
02,20.2014
0.075
0.076
99.962083
912796BZ1
52-WEEK
08-22-2013
08.21-2014
0.135
0-137
99.863500
912796BX6
21-DAY
06-15-2013
09-05-2013
0,060
0.061
99.996500
912796AZ2
4-WF.EK
08-15-2013
09-12-2013
0 055
0.056
99 995722
91279613M
13-WEEK
08-15-2013
11-14-2013
0.055
0.056
99.986097
9J2796AE9
26-WEEK
08-15-2013
02-13-2014
0,075
0.076
99.962083
912796BY4
4-WEEK
08-08-2013
09-05-2013
0.045
0,046
99.996500
912796AZ2
13-WEEK
08-08-2013
11-07-2013
0 040
0.041
99.989889
912796BK4
26-WEEK
08-08.2013
02.06-2014
0.075
0.076
99.9620:9
912796AR0
4-WEEK
08-01-2013
OB-29-2013
0.030
0 030
99.997667
912796AY5
13-WEEK
08-01-2013
10-31-2013
0.030
0.030
99.992.417
9.12796BH1
26-WEEK
OB-01-2.013
01-30-2014
0.065
0.066
99.967139
912796BWO
4-WEEK
07-25-2013
08-22-2013
0.020
0.020
99.998444
9127957E5
13-WEEK
07-25-2013
10.24-2013
0.035
0.035
99.991153
912796BG3
26•WEEK
07-25-2013
OS-23-2014
0.070
0.071
99.964611
912796BV0
52•WEEK
07-25-2013
07.24-2014
0.115
0.117
99.883722
912796BTS
4-WEEK
07-18-2013
08-15-2013
0 020
0.020
99.998444
912796AX7
13-WEEK
07-18-2013
10-17. 2013
0 040
0.041
99 989889
912795Z87
26-WEEK
07-18-2013
01-16-2014
0.070
0.071
99.964611
9127965tJ2
4-WECK
07-11-2013
OB-08-2013
O.U25
0.025
99.998056
912796AV1
13-WEEK
07-11-2013
10-10-2013
0.045
0.046
99.988625
912796BFS
26-WEEK
07-11-2013
01-09.2014
0075
0.076
99,962083
912796AQ2
4-WEEK
07-05-2013
08.01.2013
0.015
0.015
99.998875
912796AU3
13-WEEK
07-05-2013
10-03-2013
0.050
0.051
99.987500
912796BD0
26-WEEK
07-05-2013
01-02-2014
0.085
0.086
99 957264
912796BS7
4-WEEK
06-27-2013
07.25-2013
0.030
0 030
99.997667
9127957A3
13-WEEK
06-27-2013
09-26-2013
0.060
0 061
99.9841333
912796BC2
26-WEEK
06-27-2013
12-26-2013
0.105
0.107
99.946917
9127960R9
52-WEEK
06-27-2013
0626.2014
0.160
0.162
99.838222
912796BP3
4-WEEK
06-20-2013
07:18 2013
0.045
O.D46
99.996500
912796AT6
Effective with the 11/2/98 auction, all bills are auctioned using the single -priced method.
L3cS14.O3-4CL0151!AlgtIv0.94S1 h1tl.S4.S�SIISI L'!:LY_�i4]CB Lenal Noq�We6site Terms &Cond!tlonsl. r I jlSylj2S&„Qi I
U.S.Dergrtmont of the Troasurv. Bureau of the. Public,, Dobt
4
http://www.treasurydirect.gov/RI/OFBills 9/4/2013
Recent Note, Bond, and TIPS Auction Results
Page 1 of 1
TreasuryDirect
UQUIe > stltuti i I ARnouiµ'ements 1a 3 F�,Hesults > Satr;S$ 61,LC Ln, Q.9L , Ra .ent Note, bond,
and I IPS Auction Results
Recent
Note, Bond, and TIPS Auction Results
Security
Term
Type
Issue
Maturity
Interest
Yield
Prlce
CUSIP
Data
Date
Rate -A
%
Per $100
2-YEAR
NOTE
09-03-2013
08-31-2015
0,375
0.386
99.978190
912B28VUll
5-YEAR
NOTE
09-03-2013
08-31-2018
1.500
1.624
99.407655
912826RE2
7-YEAR
NOTE
09-03-2013
08-31-2020
2.125
2.221
99.381289
912828VV9
4-YEAR
8-MONTH
TIPS
06-30 2013
D4.15-2018
0, 125
-0.127
102.179146
912B2BUX6
3-YEAR
NOTE
08-15-2013
08-15-2016
0 625
0.631
99,962197
912828VR8
10-YEAR
NOTE
08-15-2013
08-15-2023
2.500
2,620
99,950326
912828V56
30-YEAR
BOND
08-15-2013
08-15-2043
3,625
3.652
99510318
9128.1ORC4
2-YEAR
NOTE
07-31-2013
07-3.1-2015
0.250
0, 336
99.826720
9.12B28VN7
5-YEAR
NOTE
07-31-2013
07-31-2018
1.375
1,410
99.831599
912828VQO
7-YEAR
NOTE
07-31-2013
07-31-2020
2.000
2.026
99.831111
912628VP2
10 YEAR
TIPS
07.31-2013
07.15-2023
0.375
0'384
100.004056
912828VM9
3-YEAR
NOTE
07-15-2013
07-15-2016
0.625
0.719
99.721515
912628VLI
9-YEAR
10-MONTH
NOTE
07-15-2013
05.15-2023
1.750
2,670
92,085831
91282OV83
29-YEAR
10-MONTH
BOND
07_15-2013
05-15-2043
2 B75
3,660
85.81455E
912810RB6
2-YE.AR
NOTE.
07_01-2013
06-30-2015
0.375
0.430
99,890734
912828VHO
5-YEAR
NUTE
07-01-2013
06-30-2018
1 375
1.484
99.47'843
912828VK3
7-YEAR
NOTE
07-01-2013
06-30-2020
1.875
1.932
99 628563
912828V36
29•YEAR
8-MONTH
TIPS
06.28 2013
02.15-2043
0.625
1.420
81.754227
912810RAB
3-YEAR
NOTE
06-11-2011
06 15-1016
0.500
0.581
99,759678
912828VG2
9-YEAR
11-MONTH
NOTE
06-17-2013
05-15-2023
1 750
2209.
95,933134
91282OV03
29-YFAR
11-MONTH
BOND
06-17-2013
05-15-2043
2.875
3. 355
90.978135
912810RB6
2-YEAR
NOTE.
05-31-2013
05-3.1-2015
0,250
0,283
99.931231
912828VO9
5-YEAR
NOTE
05-31-2013
05-31-2018
1.000
1..5
99.781333
912828VE7
7-YEAR
NOTE
05-31-2013
05-31-2020
1.375
1.49E
99.198680
912826VF4
9-YEAR
S-MONTH
TIPS
05-31.2013
01.15-2023
0 125
0.225
104.272695
912828UH1
3 YEAR
NOTE
0515. 2013
05-15 2016
0.250
0.354
99.689924
912828VC1
30-YEAR
NOTE
05-15-2013
05-IS-2023
1 750
1 810
99,453420
912828VB3
30-YEAR
BOND
05-15-2013
05-15-2043
2.075
2.960
97.927211
912610RB6
2-YEAR
NOTE
04-30-2013
04-30-2015
0.125
0 233
99.784628
9.1282811Y4
5-YEAR
TIPS
04-30-2013
04-15-2018
0.125
-1.311
107.020710
91262BUX6
5-YEAR
NOTE
04-30-2013
04-30-2018
0.625
0.710
99.583182
91282BUZI
7-YEAR
NOTE
04-30. 2013
04.30.2020
1,125
LISS
99.798822
912828VA5
3-YEAR
NOTE
04-15-2013
04-15 2016
0.250
0.342
99.725644
912828UW8
9-YEAR
30-MONTH
NOTE
04-15-2013
02-15-2023
2000..
1.795
101 839163
912628UN8
29-YEAR
10-MONTH
BOND
04-15-2013
02-15-2043
3 125
2.998
102.487803
912810QZ4
2-YEAR
NOTF.
04-01-2013
03-3.1-2015
0.250
0.7.55
9A990045
912828UT5
5-YEAR
NOIE
D4-01-7-013
03-31-2.016
0.750
0-760
99,951048
91282BUL12
7-YEAR
NOTE
04-01-2013
03-31.2020
1.125
1,24E
99.178276
912828UVO
9-YEAR
10-MONTH
TIPS
03-28-2013
01.15-2023
0.125
-0.602
107.056044
912828UHI
34YEAR
NOTE
03-I5-2013
03,15. 2016
0.375
0.411
99.892773
912828US7
' Denotes TIPS bond; all other TIPS without asterisks are notes
fry Igm of In(omllio IL3�A-L-iSI1dAILS.S I I.'.ulymLy R Lena Nutic,esl $�ilLSlISr3'•'iS9P�.II.i��51 AccesslbllIY Data- UI,dW
U.S. Denartmont ui'the Treasury. Bureau of the Public: Debt
5
http://www.treasurydirect.gov/RI/OFNtebnd 9/4/2013
Printer Version - Board of Governors of the Federal Reserve System Page 1 of 4
Selected Interest Rates (Daily) - H.15
Current Release Release Dates Daily Update Historical Data About Announcements
Daily Update
Re tease :Date: ,August 30, 2013
The weekly release is posted on Monday. Daily updates of the weekly release are posted Tuesday through Friday on this site.
If Monday is a holiday, the weekly release will be posted on Tuesday after the holiday and the daily update will not be posted
on that Tuesday.
August 30, 2013
Selected Interest Rates
Yields in percent per annum
Instruments
2013
Aug
26
2013
Aug
27
2013
Aug
28
2013
Aug
29
Federal funds (effective) z 3
0.08
0.07
0.07
0.08
Commercial Paper 3 a 5 s
Nonfinancial
1-month
0.06
0.05
0.06
0.05
2-month
n.a.
0.07
0.06
n.a.
3-month
Financial
1-month
2-month
3-month
CDs (secondary market) 2 z
1-month
3-month
6-month
Eurodollar deposits (London) 3 a
1-month
3-month
6-month
Bank prime loan z 3 9
0.09
0.08
0.07
0.07
0.05
0.05
0.04
0.14
0.08
0.06
0.07
0.09
0.10
0.08
0.11
0.11
n.a.
n.a,
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
0.22
0.22
0.22
0.22
0.28
0.28
0.28
0.28
0.42
0.42
0.42
0.42
3.25
3.25
3.25
3.25
6
http://www.federalreserve.gov/releases/H 15/update/ 9/4/2013
Printer Version - Board of Governors of the Federal Reserve System Page 2 of 4
Discount window primary credit 2. 10
U.S. government securities
Treasury bills (secondary market) 34
4-week
0.75
0.75
0.75
0.75
0.03
0.04
0.04
0.03
3-month
0.04
0.05
0.03
0.02
6-month
0.07
0.07
0.07
0.06
1-year
0.13
0.12
0.13
0.13
Treasury constant maturities
Nominal
1-month
0.03
0.04
0.04
0.03
3-month
0.04
0.05
0.03
0.02
6-month
0.07
0.07
0.07
0.06
1-year
0.13
0.41 I
0.79
0.12
0.38
0.77
0.14
0.14
2-year
0.40
0.39
3-year
0.79
0.79
5-year
1.61
1.56
1.62
1.60
7-year
10-year
20-year
30-year
Inflation indexed 12
5-year
2.23
2.15
2.22
2.20
2.79
2.72
2.78
2.75
3.52
3.45
3.50
3.45
3.77
3.70
3.75
3.70
-0.21
-0.30
-0.23
-0.20
7-year
0.26
0.17
0.25
0.28
10-year
0.64
0.57
0.63
0.65
20-year
30-year
Inflation -indexed long-term average i3
Interest rate swaps "
1-year
2-year
3-year
4-year
5-year
7-year
10-year -
1.20
1.14
1.19
1.18
1.47
1.41
1.45
1.43
1.12
i
0.34
1.06
1.11
1.10
0.34
0.34
0.34
0.55
0.54
0.56
0.57
0.93
l 1.37
1.77
0.92
0.94
0.96
1.35
1.37
1.39
1.74
1.77
1.79
2.41
2.37
2.39
2.41
2.97
2.94
2.95
2.98
http://www.federalreserve.gov/releases/H 15/update/ 9/4/2013
Printer Version - Board of Governors of the Federal Reserve System Page 3 of 4
30-year
Corporate bonds
Moody's seasoned
Aaa 15
Baa
State & local bonds 16
Conventional mortgages 17
n.a. Not available.
Footnotes
3.77
3.74
3.74
3.75
4.60
4.51
4.58
4.52
5.46
5.38
5.43
5.37
4.96
4.51
1. The daily effective federal funds rate is a weighted average of rates on brokered trades.
2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar
day in the month.
3. Annualized using a 360-day year or bank interest.
4. On a discount basis.
5. Interest rates interpolated from data on certain commercial paper trades settled by The Depository Trust Company. The trades
represent sales of commercial paper by dealers or direct issuers to investors (that is, the offer side). The 1-, 2-, and 3-month rates are
equivalent to the 30-, 60-, and 90-day dates reported on the Board's Commercial Paper Web page
(www.fedcralrescrve.aov/releases/cn/).
6. Financial paper that is insured by the FDIC's Temporary Liquidity Guarantee Program is not excluded from relevant indexes, nor is
any financial or nonfinancial commercial paper that may be directly or indirectly affected by one or more of the Federal Reserve's
liquidity facilities. Thus the rates published after September 19, 2008, likely reflect the direct or indirect effects of the new temporary
programs and, accordingly, likely are not comparable for some purposes to rates published prior to that period.
7. An average of dealer bid rates for certificates of deposit (CDs) that are actively traded in the secondary market and are issued by
top -tier banks. Bids are generally for CDs issued in denominations of $1,000,000 or greater. Responses are not reported when the
number of respondents is too few to be representative.
8. Source: Bloomberg and CTRB ICAP Fixed Income & Money Market Products.
9. Rate posted by a majority of top 25 (by assets in domestic offices) insured U.S.-chartered commercial banks. Prime is one of several
base rates used by banks to price short-term business loans.
10. The rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program,
which became effective January 9, 2003. This rate replaces that for adjustment credit, which was discontinued after January 8, 2003.
For further information, see t�%vrv.ttsicriirtst.rvc, iwr'IK�urtitiocw/13resslbci-cg/2t102/2002103 [?IcielixfElt,htm. The rate reported is that for
the Federal Reserve Bank of New York. Historical series for the rate on adjustment credit as well as the rate on primary credit are
available at wwiv.federalreserve.gov/releases/h 15/data.htm.
8
http://www.federalreserve.gov/releases/H15/update/ 9/4/2013
Printer Version - Board of Governors of the Federal Reserve System Page 4 of 4
11. Yields on actively traded non -inflation -indexed issues adjusted to constant maturities. The 30-year Treasury constant maturity
series was discontinued on February 18, 2002, and reintroduced on February 9, 2006. From February 18, 2002, to February 9, 2006,
the U.S. Treasury published a factor for adjusting the daily nominal 20-year constant maturity in order to estimate a 30-year nominal
rate. The historical adjustment factor can be found Source: U.S.
Treasury.
12. Yields on Treasury inflation protected securities (TIPS) adjusted to constant maturities. Source: U.S. Treasury. Additional
information on both nominal and inflation -indexed yields may be found at www.treasur��.eov/resource-center/data-chart-
center/interest-rates/.
13. Based on the unweighted average bid yields for all TIPS with remaining terms to maturity of more than 10 years.
14. International Swaps and Derivatives Association (ISDA®) mid -market par swap rates. Rates are for a Fixed Rate Payer in return
for receiving three month LIBOR, and are based on rates collected at 11:00 a.m. Eastern time by ICAP plc and published on Thomson
Reuters Page ISDAFIX81. ISDAFIX is a registered service mark of ISDAO. Source: Thomson Reuters.
15. Moody's Aaa rates through December 6, 2001, are averages of Aaa utility and Aaa industrial bond rates. As of December 7, 2001,
these rates are averages of Aaa industrial bonds only.
16. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations.
17. Contract interest rates on commitments for 30-year fixed-rate first mortgages. Source: Primary Mortgage Market Survey® data
provided by Freddie Mac.
Note: Weekly and monthly figures on this release, as well as annual figures available on the Board's historical H.15 web site
(see below), are averages of business days unless otherwise noted.
Current and historical H.15 data are available on the Federal Reserve Board's web site (www.federalreserve.gov/). For
information about individual copies or subscriptions, contact Publications Services at the Federal Reserve Board (phone 202-
452-3244, fax 202-728-5886).
Description of the Treasury Nominal and Inflation -Indexed Constant Maturity Series
Yields on Treasury nominal securities at "constant maturity" are interpolated by the U.S. Treasury from the daily yield curve
for non -inflation -indexed Treasury securities. This curve, which relates the yield on a security to its time to maturity, is based
on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are
calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The constant maturity yield
values are read from the yield curve at fixed maturities, currently 1, 3, and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years.
This method provides a yield for a 10-year maturity, for example, even if no outstanding security has exactly 10 years
remaining to maturity. Similarly, yields on inflation -indexed securities at "constant maturity" are interpolated from the daily
yield curve for Treasury inflation protected securities in the over-the-counter market. The inflation -indexed constant maturity
yields are read from this yield curve at fixed maturities, currently 5, 7, 10, 20, and 30 years.
9
http://www.federalreserve.gov/releases/H15/update/ 9/4/2013
Printer Version - Board of Governors of the Federal Reserve System
Page 1 of 2
Commercial Paper
Summary Rates Volume Statistics Outstanding Year-end Maturity Distribution About Announcements Technical
O&As
Commercial Paper Rates and Outstanding Summary Derived from data supplied by The Depository Trust & Clearing
Corporation
Data as of September 3, 2013 Pasted September 4, 2013
The commercial paper release will usually be posted daily at 9:45 a.m. However, the Federal Reserve Board makes no
guarantee regarding the timing of the daily posting. This policy is subject to change at any time without notice.
Rates
AA nonfinancial
Period
-
1-
7-
is-
30-
60-
90-
day
day
day
day
day
day
0.04
0.06
0.06
0.07.
Aug.
0.03
0.05
28
Aug.
29
0.05
0.05
0.05
0.04
n.a,
0.07
Aug.
30
0.041
0.05
0.06
0.05
0.06
n.a.
0.08
n.a.
Sept.2
n.a.
n.a.
n.a.
n.a,
Sept.3
0.05
0.05
0.05
0.05
0.07
0.08
A2/P2 nonfinancial
1-
day
7-
day
is-
day
30-
day
60-
day
0.33
90-
day
0.20
0.22
0.28
0.26
n.a.
0.20
0.24
0.24
0.23
n.a.
n.a.
0.20
0.21
0.25
0.27
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
0.20
0.22
0.24
0.26
0.23
n.a,
Note: n.a. indicates that trade data was insufficient to support calculation of the particular rate.
AA financial
AA asset -backed
Period
1-
1-
7-
is-
30-
60-
90-
7-
is-
30-
60-
90-
day
day
day
day
day
day
day
0.11
day
day
day
day
day
Aug.
0.05
0.05
0.05
0.04
0.07
0.11
0.15
0.12
0.14
0.19
0.231
28
0.11
Aug.
0.06
0.07
0.10
0.14
0.09
0.11
0.13
0.14
0.16
0.18
0.19
29
0.10
n.a,
Aug.
30
0.06
0.05
0.07
0.06
0.07
0.11
0.14
0.15
0.16
0.19
0.20
Sept.2
n.a.
n.a,
n.a.
n.a,
n.a.
n.a.
n.a.
n.a.
n.a.
n.a..
n.a,
0.10
Sept. 3
0.06
0.05
0.05
0.06
0.08
0.11
0.16
0.16
0.15
0.21
0.231
Note: n.a. indicates that trade data was insufficient to support calculation of the particular rate.
10
http://www.federalreserve.gov/releases/ep/ 9/4/2013
Printer Version - Board of Governors of the Federal Reserve System Page 2 of 2
Outstanding Levels
Seasonally adjusted
Billions of dollars
Period
Total
Nonfinancial
Financial
Asset -
backed
Other
Total
Domestic
Foreign
Total Domestic
Foreign
Monthly -end levels
2013-Apr.
993.7
181.1
134.7
46.4
532.1
301.8
229.7
280.5
.0
May
1,020.8
201.7
148.7
52.9
541.7
302.9
238.2
277.4
.0
June
997.6
206.5
159.4
47.2
515.3 1
280.2
234.7
275.7
.0
July
983.3
981.8
984.5
185.4
130.9
54.4
526.5
277.6
248.4
271.4
.0
Aug.
Weekly (Wednesday)
201.2
143.3
57.9
510.9
256.4
252.3
269.8
.0
levels
July 31
203.2
146.2
57.0
510.2
260.0
249.3
271.1
.0
Aug.7
987.6
197.5
139.3
58.1
519.9
266.0
253.1
270.3
.0
Aug. 14
1,003.7
194.2
134.5
59.7
537.1
277.6
258.7
272.4
.0
Aug.21
1,020.4
210.8
150.7
60.1
540.0
277.5
260.7
269.6
.0
Aug.28
1,020.1
215.5
156.2
59.2
532.8
269.9
260.6
271.9
.0
Not seasonally adjusted
Billions of dollars
Period
Total
Nonfinancial
Financial
Asset -
backed
Other
Total
Domestic
Foreign
-
Total Domestic Foreign
Monthly -end levels
2013-Apr.
1,046.8
187.2
138.1
49.1
570.9
308.4
262.0
288.6
.0
May
1,065.7
212.5
152.9
59.7
572.1
302.2
269.2
281.2
0
June
990.6
198.5
147.2
51.2
524.8
281.8
242.2
267.3
.0
July
1,006.1
207.7
149.2
58.5
538.6
281.1
256.7
259.8
.0
Aug.
1,003.4
218.6
156.3
62.4
522.1
271.3
248.7
262.7
.0
Weekly (Wednesday) levels
July 31
1,006.1
207.7
149.2
58.5
538.6
281.1
256.7
259.8
.0
Aug.7
1,018.1
211.8
151.8
60.0
546.7
288.2
257.7
259.7
.0
Aug.14
1,018.3
208.8
147.1
61.7
546.1
291.3
253.6
263.4
.0
Aug.21
1,036.6
219.3
158.0
61.2
555.5
295.4
258.4
261.9
.0
Aug.28
1,027.7
217.2
155.7
61.4
546.5
286.6
257.9
264.0
.0
Return to to
11
http://www.federalreserve.gov/releases/cp/ 9/4/2013
POOLED MONEY INVESTMENT ACCOUNT
Summary of Investment Data
A Comparison of July 2013 with July 2012
(DOLLARS IN THOUSANDS)
July 201.3 j July 2012 FC
Average Daily Portfolio ($)
53,786,096
69,492,950
-5,707,854
Accrued Earnings ($)
12,212
18,354
-6,142
Effective Yield (%)
0.267
0.363
-0.096
Average Life -Month End (In Days)
265
243
+22
Total Security Transactions
Amount ($)
14,302,464
12,889,231
+1,413,233
Number
287
260
+27
Total Time Deposit Transactions
Amount ($)
3,382,800
4,030,300
-647,500
Number
114
136
-22
Average Workday Investment Activity
803,876
805,692
-1>816
Prescribed Demand Account Balances
For Services ($)
2,033,365
1,909,688
+123,677
1
12
BILL LOCKYER
TREASURER
STATE OF CALIFORNIA
Investment Division Selected Investment Data
Analysis of the Pooled Money Investment Account Portfolio
(DOLLARS IN THOUSANDS)
July 31, 2013
DIFFERENCE IN
PERCENT
PERCENT OF
OF
PORTFOLIO FROM
TYPE OF SECURITY
AMOUNT ($)
PORTFOLIO
PRIOR MONTH
Government
Bills
17,370,413
31.77
+1.12
Bonds
0
0.00
0
Notes
17,265,541
31.57
+1.19
Strips
0
0.00
0
Total Government
34,635,954
63.34
+2.31
Agency Debentures
1,811,300
3.31
+0.26
Certificates of Deposit
4,170,049
7.63
-8.13
Bank Notes
0
0.00
0
Bankers' Acceptances
0
0.00
0
Repurchases
0
0.00
0
Agency Discount Notes
2,248,563
4.11
+0.29
Time Deposits
4,419,640
8.08
+0.47
GNMAs
0
0.00
0
Commercial Paper
1,329,570
2.43
-4.80
FHLMC/Remics
180,193
0.33
0
Corporate Bonds
0
0.00
0
AB 55 Loans
295,365
0.54
+0.05
GF Loans
5,193,600
9.50
+9.50
NOW Accounts
0
0.00
0
Other
399,982
0.73
+0.05
Reversed Repurchases
0
0.00
0
Total (All Types)
54,684,216
100.00
INVESTMENT ACTIVITY
July 2013
June
2013
NUMBER
AMOUNT ($)
NUMBER
AMOUNT($)
Pooled Money
287
14,302,464
564
28,120,766
Other
5
187,731
19
343,182
Time Deposits
114
3,382,800
70
1,892,000
Total
406
17,872,995
653
30,355,948
PMIA Monthly Average Effective Yield (%)
0.267
0.244
Year to Date Yield Last Day of Month (%)
0.267
0.307
E
13
Pooled Money Investment Account
Portfolio Composition
$54.7 Billion
07/31 /13
Loans
10.04%
Comme
2.
Time Depo;
8.08%
CDs/BNs
7.63%
Agende
8.15%
Mc
reasuries
63.34%
14
BOARD MEMBER ITEMS