What type of securities does NYCLASS invest in?
The Board invests cooperative funds only in securities that are legal for public funds investment in New York State. The Board limits these investments to obligations of the United States government and Repurchase Agreements collateralized at 102% by U.S. Treasury, Agency securities backed by the full faith and credit of the United States government, and collateralized bank deposits. Q: Who oversees NYCLASS? A: The Agreement is administered by an elected Governing Board (the Board) of fifteen members. A Board member must be either a Participant’s Chief Fiscal Officer or another designated officer or employee of the Participant who has knowledge and expertise in financial matters. The Board enlists the services of several professionals to fulfill its administrative responsibilities: a Program Administrator, an Investment Advisor, an Independent Auditor and a Custodial Bank.
