Board committees approve system commercial paper program and governance changes
The finance and investment committees recommended and approved resolutions to authorize a systemwide commercial paper program (up to $800M aggregate), governance amendments to board rules, and to allow investment pools to back liquidity for CP use.
The full story
Justin Fanning, assistant vice chancellor for investments and treasury, presented the mechanics and governance of a proposed University of Alabama System commercial paper program and asked the committee to authorize the overall program and related rule updates. “The proposed UA system CP program would have an aggregate authorization amount of up to $800,000,000,” he said, emphasizing the amount is a program ceiling, not an immediate borrowing expectation.
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