The Deputy Chief Executive/Director of Finance presented a review of Treasury Management activities during the second quarter of 2011/2012 and confirmed compliance with treasury limits and prudential indicators. The review had been prepared in accordance with the revised CIPFA Treasury Management Code and the revised Prudential Code. At its meeting on 3 November 2011 (minute 176 refers), the Cabinet had accepted the Review and agreed that the Treasury Management Strategy be revised to allow for the continued use of the Natwest Bank, for short term liquidity requirements (overnight and weekends) and business continuity arrangements, despite it no longer meeting the Council’s minimum credit criteria.

Resolved – That the report be noted.