State Treasury to Invest in Vermont Banks

first_imgThe Vermont State Treasurers Office has unveiled an initiative to invest a significant portion of Vermonts short-term cash in Vermont Banks. Currently, such funds are invested primarily in government agency securities, high quality corporate commercial paper, and money market accounts at large financial institutions. The new Treasurers Bank in Vermont Program is consistent with an ongoing effort by State Treasurer Jeb Spaulding to support Vermont-based financial institutions when acceptable rates of return can be achieved.According to Treasurer Spaulding, We are inviting banks to participate in a certificate of deposit (CD) program designed to support community banking, while earning a competitive return on State funds. We will invest on a predictable basis, via a competitive bidding process, in banks with branches in Vermont. The program is designed to be attractive to a wide range of banking institutions and is predicated on the belief that investing Vermont funds in Vermont, consistent with earning a competitive rate of return, is a good policy.Banks will be pre-approved by the Office of the State Treasurer for maximum levels of investment based on a bank’s size and other factors. In addition, participating banks must have at least a satisfactory rating under the federal Community Reinvestment Act of 1977. State funds will be available for bid in various maturities, based on State cash flow projections and projected interest rates. Participating banks will submit bids through the Internet and/or e-mail. The Office of the State Treasurer will award CDs based on rank order of quoted rates and associated dollar levels until the funds are depleted for each scheduled bidding period.Chris D’Elia, Executive Director of the Vermont Bankers Association, reacted to Spauldings initiative positively. “Vermont’s banking community welcomes the opportunity to work with the Treasurer’s Office on implementing this new program. This effort will keep investment funds within Vermont, thus allowing them to be utilized to encourage new economic activity, he said.Kenneth Perine, President of the National Bank of Middlebury, explained his support of the Bank in Vermont Program by saying, I am pleased to see efforts that recognize Vermonts banking institutions as a viable alternative for State of Vermont investments, and am pleased by Treasurer Spauldings effort to reach out to Vermont bankers in designing this program.Other examples of Treasurer Spauldings commitment to supporting Vermont institutions include investments in the Vermont Community Loan Fund and the Vermont Development Credit Union. In addition, the three investment firms used by the Treasurers Office to manage longer-term funds are all based in Vermont. They are National Life Capital Management, Hanson Investment Management, and Prentiss Smith & Company.last_img read more

Oshoala Says Not under Pressure to Deliver as Falcons Land in…

first_imgOshoala impressed in the second half of last season at Barcelona and the Spanish side have turned the loan into a permanent deal after netting eight goals in 11 competitive matches.”I am not under any pressure, I’m just going there to have fun, I’m not looking for a club or whatever. I am just going to the World Cup to have fun and help the team and give 100 percent, do the best I can,” said Oshoala.”The goals were not just coming in the Nations Cup which is normal, sometimes you get a goal, sometimes you just help the team, so you don’t have to score all the time. Scoring in Barcelona, probably I am getting it right, sometimes it happens like this.”She added : ”For me it’s one step at a time, we go by each game. First game against Norway, second game against Korea, third game against France and then we pick it up from there. After the group stage, we know what’s next.”The Super Falcons departed the Avita Resort in Bad Tatzmannsdorf in Austria, where they were on a two-week residential camping on Thursday.The delegation of the Super Falcons players and officials landed at the Aeroport Charles de Gaulle just before 5pm, three days to the kick-off of the tournament.Although their best performance till date has been a quarter final appearance at the third edition of the competition in the United States of America 20 years ago, the Falcons are one of only seven teams to have appeared in every edition of the championship since it was launched in China in 1991.The others are the senior women teams of Germany, Norway, Brazil, USA, Sweden and Japan.In France, the nine-time African champions are up against host nation France, Norway and Korea Republic in Group A.They open their campaign against Norway on Saturday in Reims, before other matches against Korea Republic in Grenoble (12th June) and France in Rennes (17th June).Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram FIFA WOMEN’S WORLD CUPBarcelona’s Asisat Oshoala has said that she is not under any pressure ahead of Nigeria’s 2019 FIFA Women’s World Cup opener against Norway on Saturday, June 8 in France.The former Arsenal and Liverpool striker did not make an impact that fans are used to seeing at the 2018 Africa Women’s Cup of Nations (AWCON), scoring three goals, all coming in the 6-0 rout of Equatorial Guinea, and did not win an individual accolade at the end of the tournament in Ghana.last_img read more