PRODUCTS

INVESTMENT AGREEMENTS/GIC’S

  • Obligation of rated counterparty to pay agreed upon rate and return funds at agreed upon times
     

  • Usually fully flexible draws, fixed rate & downgrade protection
     

  • Highest yield
     

  • Not marked to market
     

  • No ongoing maintenance needed
     

  • All fees paid at closing
     

  • Fixed and variable rates
     

  • Not subject to being marked to market
     

  • Can accept future deposits

FLEXIBLE REPURCHASE AGREEMENTS

  • Can be viewed as an investment agreement backed by Treasuries and agency securities.
     

  • Usually fully flexible draws & downgrade protection
     

  • Same features as an investment agreement with U.S. Treasury and agency securities to enhance repurchase agreement provider credit
     

  • Flexible draws
     

  • Fixed and variable rates
     

  • Not subject to being marked to market
     

  • Can accept future deposits

LADDERED

PORTFOLIOS

  • Purchase of a portfolio of securities structured to provide funds on or before the date funds will be needed
     

  • Easy to obtain
     

  • Simple to monitor
     

  • If only treasuries then no counterparty risk, if agencies are included minimal counterparty risk

DEFEASANSE EXCROWS

  • Purchase of a portfolio of securities structured to provide funds on or before the date funds will be needed
     

  • Easy to obtain, no oversight needed
     

  • Traditional and crossover refundings

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© 2018 by Winters & Co. Advisors, LLC

    Created by Rad Animal