Regents Policy 5303: Policy on Borrowing from Combined Investment Portfolios of the Short-Term Investment Pool and the Total Return Investment Pool

Approved May 19, 1989
Revised March 18, 1999
Amended November 2008 and November 2009

A. The Commercial Paper Program:
The President is authorized to either utilize a portion of Short Term Investment Pool/Total Return Investment Pool (STIP/TRIP) as liquidity support for the Commercial Paper (CP) Program or, if necessary, negotiate standby letters of credit, lines of credit or other liquidity agreements to provide additional liquidity support for the CP Program. Repayment of advances under any such liquidity facility shall be repaid from revenue sources identified by the President so that the general credit of The Regents is not pledged.

B. Medical Centers’ Working Capital Borrowing:
The President is authorized to utilize the combined investment portfolios of STIP/TRIP for medical centers’ working capital borrowings. A hospital’s working capital borrowings from STIP/TRIP for a month shall not exceed 60 percent of the hospital’s total accounts receivable for that same month (total accounts receivable being defined as patient accounts receivable, net of allowances).

C. Mortgage Origination Program Loans:
The President is authorized to utilize the liquidity available in the combined investment portfolios of STIP/TRIP for the Mortgage Origination Program (MOP) Loans.

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