Maintain a $150 million target floor overnight investment balance.
Strategically invest all available funds in excess of the target overnight
investment balance, which
may include purchasing conventional Treasury securities within the zero- to
sector, purchasing Treasury Inflation-Protected Securities (TIPS) within the
two- to ten-year maturity
sector, and/or purchasing callable Treasury securities with final maturities
not to exceed eight years,
subject to the following limitations:
All newly purchased Treasury securities shall be designated available-for-sale
Newly purchased AFS conventional Treasury securities should have maturities
of six years or less.
Increase the portfolio's primary reserve balance, with a goal of reaching
a $15 billion target floor balance over the near term.
Changes for 1st Quarter 2008
No changes in strategy
Strategy as of 4th Quarter 2007
Maintain a target overnight investment balance between $20 million and
Strategically invest the remaining funds in the zero- to 12-month maturity sector.