FC 92/5(c)i  |
| FC 92/5(c)i |
Ninety-second Session |
Rome, 3 - 7 May 1999 |
Report on Investments - 1998 |
Regular Programme and Trust Funds |
1. This document is submitted to the Finance Committee for information, in accordance with Financial Regulation IX on the same basis as documents FC 92/5c (ii) and (iii), which contain statements of the investments held for the Compensation Plan Reserve fund (CPRF) and the Separation Payments Scheme (SPS).
2. The investments policy guidelines require that the Organization invests excess funds for the Regular Programme and Trust Funds in fixed-term Dollar deposits with highly rated international banks in major money market centres. The maturities of deposits are determined by the estimated cash flow requirements as well as prevailing market conditions at the time such placements are made.
3. Investment actions are formulated utilizing banks on the Organization's authorized list which are among the highest rated international banks throughout the world. To minimize risk, maximum investment levels are observed with regard to individual banks.
4. Appendix A contains a statement of the investments held for the Regular Programme and Appendix B, a statement of the investments held for the Trust Fund Programe as at 31 December 1998.
|
TABLE 1
| ||||
| Regular Programme - Fixed-term Deposits at 31 December 1998 | ||||
| Bank | Principal - US$ | Placement Date | Maturity Date | Interest Rate (%) |
| Rolobanca 1473 | $ 25,000,000.00 | 19-Nov-98 | 19-Jan-99 | 5.34000 |
| Total | $ 25,000,000.00 | |||
|
TABLE 2
| |
| Regular Programme - Call Accounts at 31 December 1998 | |
| Bank | Balance - US$ |
| Bankers Trust Co | 2,945,000.00 |
| Chase Manhattan Bank, N.A. | 12,705,750.47 |
|
Table 3
| ||||
| Trust Funds - Fixed-term Deposits at 31 December 1998 | ||||
|
Bank
|
Principal
|
Placement Date
|
Maturity Date
|
Interest Rate (%)
|
| Morgan GuarantyTrust Co |
$20,000,000.00
|
13-Oct-98
|
13-Jan-99
|
5.25000
|
| Commerzbank |
$15,000,000.00
|
19-Oct-98
|
19-Jan-99
|
5.30000
|
| Deutsch Bank |
$30,000,000.00
|
27-Oct-98
|
27-Jan-99
|
5.09000
|
|
Bank of America
|
$45,000,000.00
|
19-Nov-98
|
19-Feb-99
|
5.12500
|
| Banque Bruxelles Lambert |
$40,000,000.00
|
14-Dec-98
|
14-Jan-99
|
5.46875
|
| Credit Agricole |
$10,000,000.00
|
31-Dec-98
|
20-Jan-99
|
5.50000
|
| Total |
$160,000,000.00
|
|||
|
Table 4
| ||
|
Trust Funds - Call Account at 31 December 1998
| ||
|
Bank
|
Saudi Riyals
|
Equivalent in US$
|
|
Saudi International Bank
|
4,253,542.55
|
1,134,278.01
|