Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Truist presents repricing proposal to La Vergne, estimates roughly $1.49M yearly interest
Summary
Truist Bank representatives presented a repricing proposal for the city's accounts that would tie the city’s yield to the federal funds upper bound plus 100 basis points, estimating about $124,000 monthly (roughly $1.49 million annually) in interest under current rates; no action was taken.
La Vergne — Representatives from Truist Bank presented a proposed repricing of the city's banking relationship at the Board of Mayor and Aldermen workshop June 26 and estimated material interest earnings if the board accepts the proposal.
Hayden Oakley, account representative for Truist, and Matt Sclefani, Treasury Consultant, told the board the repricing would tie the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
