PMIB Meeting Update

Yesterday in Sacramento, the Pooled Money Investment Board (PMIB) comprised of State Treasurer Bill Lockyer, State Controller John Chiang, and Director of Finance Michael Genest met to discuss the State’s Cash Management Requirements; approve staff’s recommendations to continue the freeze on AB 55 loan disbursements except for the previously authorized $650 million approved on January 16, 2009; postpone consideration of three new loan requests from the California Resources Board, California High Speed Rail Authority; and the California Housing Finance Agency; and agree to convene a special meeting as soon as possible following the enactment of a State budget solution. . .

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