Principality's Treasury team manages the Group's liquidity, wholesale funding and capital resources. Access to the wholesale markets allows the Group to smooth out variations in savings flows and moderates reliance on traditional sources of funding.
Wholesale funding is raised via the International Money Markets with maturities varying from overnight to fifteen years. Access to the markets is through a variety of instruments and programmes.
The current programmes are:
- Time Deposits
- Certificates of Deposit (CD)
- Euro Medium Term Notes (EMTN) - current EMTN Prospectus
- Euro Covered Bonds - current Covered Bond Prospectus
- Residential Mortgage Backed Securities - Link to Investor reports, the Investor Presentation and full documentation: www.euroabs.com
- Friary No1 plc - called 21/07/2016
- Link to Friary No2 plc Cashflow Model: www.euroabs.com
- Link to Friary No3 plc Cashflow Models: boeportal.co.uk & www.euroabs.com
- Permanent Interest Bearing Shares (PIBS) - PIBS Prospectus
The Group maintain credit ratings in line with all major financial institutions. The Group is rated by two of the main worldwide agencies, Moody’s Investor Services and Fitch Ratings.
We keep both updated with our results and any other significant event. Our current ratings are as follows:
|Short Term||Long Term||Last Review|
The liquidity is available to meet the cashflows of the Group. Surplus funds are invested in various maturity periods from overnight to ten years. Investments are made in a variety of instruments which are listed below:
- Call Accounts
- Cash Deposits
- Certificates of Deposit
- Treasury Bills
- Floating Rate Notes
- Residential Mortgage Backed Securities
- Supranational Bonds
Investment rates can be offered on amounts over £500,000 for periods varying from one month up to five years. Each deal will be for a fixed maturity.
Below are examples of the types of counterparties who invest with Treasury:
- Local Authorities
- Registered Charities
- Housing Associations
- Insurance Companies
- Finance Institutions
- Fund Managers
Treasury cannot accept money from an individual. If individual customers wish to open a savings account with the Society, please contact your local branch, our Customer Service Centre or apply online.
If you require any further information on how to invest with us please contact the Treasury Department either by email email@example.com or by telephone 02920 773447.
Principality. Where home matters.