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Board accepts securities transactions and SWAT account update
Summary
The board approved the reported securities transactions for the period and accepted a SWAT portfolio update reporting fair market value and interest-rate movement.
The Board of Finance accepted Treasury staff’s securities transactions report for the period covering Aug. 18 through Oct. 17, 2025, and received an update on the SWAT portfolio.
Treasury staff reported purchases totaling $905,000,000 and redemptions totaling $950,000,000 for the stated period. Staff also reported that $215,000,000 of opioid settlement proceeds were rolled over and reinvested for an additional six months while the city completes the remainder of the opioid proceeds and develops an investment program for those funds. The board moved, seconded and approved acceptance of the securities transactions report.
On the SWAT report, staff presented fair-market-value figures as of Sept. 30, 2025: $8,811,543, up from about $8,000,009 the prior month. Staff noted a change in the 10-year rate from 4.89% in July to 4.16% in September and said a new swap adviser is reviewing the unhedged exposure of about $71,000,000 to determine possible hedging strategies. Board members accepted the SWAT report as information.
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