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The most current overnight rate was set on December 16, 2008 at 0.00% to 0.25%. At the end of the first <br />quarter, the City’s portfolio consisted of 79% of the portfolio maturing overnight (see graph below), 5% of <br />the City’s portfolio matures in 1-12 months, 8% maturing in 12-24 months and 8% maturing beyond two <br />years. <br />By Investment Maturity <br />8% <br />8% <br />5% <br />79% <br />Overnight1-12 Months <br />12-24 Months24-36 Months <br /> <br />Currently, the 3-month T-Bill is at 0.07%; 2-year, at 0.26%; 5-year, at 0.70%; and, the 20-year is at 2.47% <br />see yield curve below). <br />Yield Curve <br />3.00% <br />2.00% <br />1.00% <br />0.00% <br />Treasury Bills <br />3 months agocurrent <br />The overnight rate is currently at 0.00% to .25%. We will continue to focus on laddering the portfolio to <br />maintain a constant cash flow and a liquid position. <br />2 <br /> <br />