David Green: Credit rating the Municipal Bonds Agency
The Municipal Bonds Agency has achieved a credit rating from Moody’s. David Green explores what went into the decision. Moody’s has assigned UK Municipal Bonds Agency plc a Aa3 credit[…]
Treasury
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Spelthorne borrows £30m as PWLB lending tops £1bn in March
Spelthorne council has borrowed £30m to refinance two property deals completed last year, as March’s total Public Works Loan Board borrowing tipped over £1bn. The authority, which 18 months ago[…]
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Final guidance revealed for application of IFRS 9
New guidance reflecting the controversial accounting standard IFRS 9 has been issued for local local authoritie. A joint board (CIPFA/LASAAC) of the Chartered Institute of Public Finance and Accountancy and[…]
Q&A: pbb Deutsche Pfandbriefbank on lending to local authorities
Sponsored Q&A: Jean Christophe and Edward Simons of pbb talk to Room151 about forward starting loans. Q: Tell us about your recent activity as a lender to UK local authorities[…]
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Inflation undermining investments is the ‘biggest’ risk, says Mather
The biggest financial risk facing local authority treasurers comes from the rate of inflation outstripping investment returns, Room151’s LATIF North conference heard last week. Speaking to delegates, Danny Mather, head[…]
Councils could face ‘additional’ intervention if borrowing rates continue
Local authorities could face further intervention by central government if new changes to investment and treasury codes fail to dampen council borrowing levels, according to a senior Whitehall official. Gareth[…]
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Stephen Sheen: IFRS 9 and ‘impairment’ are no April Fool
For those with a sense of humour IFRS 9 is sadly no practical joke. It’s time to prepare for impairment losses… and a game of Jumanji. While we wait expectantly[…]
Tony Kirkham: The s151 challenge like holding back the tide
Tony Kirkham becomes president of the Society of Municipal Treasurers at the end of March. He wonders whether being s151 is much like being King Canute and invokes the sage[…]
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Survey reveals another section 114 notice expected within a year
Three quarters of senior finance officers expect at least one other council to issue a section 114 notice in the next 12 months, according to a Room151 survey. Last month,[…]
Councils face ‘double standard’ in guidance on property investment
The government’s crackdown on councils who borrow to invest in property outside their own areas means authorities face a “double standard”, according to Chris West, former finance director at Coventry[…]
