Legislative Assembly for the ACT: 1999 Week 3 Hansard (25 March) . . Page.. 930 ..
Mr Quinlan asked the Treasurer, upon notice, on 23 March 1999:
In relation to arbitrage programs:
(1) Noting your response to a Question without Notice on 9 March 1999, that a review was conducted by Bankers Trust into the risk profile of the ACT arbitrage program in 1995:
(a) how much did the review cost;
(b) what was the name of the consultant(s) who wrote the review;
(c) what were the major findings of the report, and
(d) will the Treasurer undertake to table a full copy of the report.
(2) With regard to the arbitrage program run through the Central Financing Unit:
(a) Are there any staff dedicated to the management of the program.
(i) if so, (A) how many; and (B) what is their classification;
(ii) if not, who is generally responsible for monitoring the instruments for the arbitrage program.
(b) Are any external managers involved in the program. If so, who are they.
(c) What are the costs associated with the running of the program (eg salaries, overheads, administrative fees etc).
(d) Are the returns on the program, that have been claimed in The Canberra Times net of associated costs or are they the gross difference between the interest costs of borrowing and the interest revenue of lending.
(e) If the returns are not net of expenses, what is the final return on the program for each year it has operated.
(f) Who are all the organisations who deal with the ACT Government through the arbitrage program.
(g) What guarantees are in place to safeguard against payment default.
(h) Of the maximum exposure allowable for public money, how much is utilised by the Central Financing Unit on average.