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<br />The overnight rate set by the Fed has decreased. The most current overnight rate was set on December 16, <br />2008 at 0.00% to .25%. At the end of the fIrst quarter, the City's portfolio consisted of 73% of the portfolio <br />maturing overnight (see graph below), 11% of the City's portfolio matures in 1-12 months and 16% maturing <br />in 12-24 months. <br /> <br />By Investment Maturity <br /> <br />16% <br /> <br />11% <br /> <br /> <br />. Overnight <br /> <br />o 1-12 Months <br /> <br />11I12-24 Months <br /> <br />Currently, the 3-month T-Bill is at .07%; 2-year, at .90%; 5-year, at 1.71 %; and, the 20-year is at 3.51 % (see <br />yield curve below). <br /> <br /> <br />Yield Cune <br /> <br />5.00% <br /> <br />4.00% <br /> <br />3.00% <br /> <br />2.00% <br /> <br />1.00% <br /> <br />0.00% <br /> <br /> <br />o\:- <br />"J(:' <br /> <br />0<::- <br />V:J(:' <br /> <br />" -\, ." -f ~ -\' <br />Treasury Bills <br /> <br />-\, <br />~ <br /> <br />-f <br />.,,~ <br /> <br />i <br />I <br />I <br />I <br />I <br />L <br /> <br />-3 rronths ago -current <br /> <br />The overnight rate is currently at 0.00% to .25%. We will continue to focus on laddering tlle portfolio to <br />maintain a constant cash flow and a liquid position. <br /> <br />2 <br />