Common use of Portfolio Guidelines Clause in Contracts

Portfolio Guidelines. Min Wtd Avg Portfolio Quality (Notes 1 & 2) Investment Sub-Portfolio Sub-Portfolio Yield Benchmarks Max Duration Sub-Portfolio Concentration Limits Instrument Per Issue (Note 3) Sub-Portfolio Max AA-/ Aa3/AA- Enhanced Cash Note 4 N/A MMFs N/A none Up to 100% USTs 1 year Up to 100% USAs 1 year Up to 75% Repos 7 days Up to 50% CDs 1 year 5% or less of sub-portfolio Up to 25% CCP or MCP 1 year Up to 75% Corps 1 year Up to 25% Munis 1 year Up to 100% Short Duration (~1-3 yr maturities) BAML 1-3 Year Treasury Index or Barclays Capital 1 Year Municipal Bond Index 2 years or less USTs N/A none Up to 100% USAs Up to 75% MFs Up to 100% SOVs 5% or less of sub-portfolio Up to 25% MRS Up to 25% ABS Up to 25% Corps Up to 25% Munis Up to 100% Intermediate Duration (~4-7 yr maturities) BAML 1-3 Year Treasury Index or Barclays Capital 5 Year Municipal Bond Index 4 years or less USTs N/A none Up to 100% USAs Up to 75% MFs Up to 100% SOVs 5% or less of sub-portfolio Up to 25% MRS Up to 25% ABS Up to 25% Corps Up to 25% Munis Up to 100%