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Baltimore City treasury reports $1.085 billion in securities purchases, $740 million redeemed; opioid funds to be reinvested short term
Summary
Treasury staff told the Board of Finance the city bought $1,085,000,000 in securities and redeemed $740,000,000 between June 16 and Aug. 15, and that opioid-settlement funds that matured will be reinvested for six months.
Baltimore City Treasury reported to the Board of Finance that, between June 16 and Aug. 15, the city made $1,085,000,000 in securities purchases and had $740,000,000 in redemptions during the same period. Treasury staff said proceeds from maturing securities and incoming tax receipts drove the turnover.
Treasury staff member presenting the report said the city will re‑invest opioid‑settlement funds that matured after a six‑month holding period into another short‑term instrument for six months while additional opioid…
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