Commercial Banks and Their Types
Commercial banks play a crucial role in the financial system by accepting deposits, granting loans, and providing various financial services. Learn about the functions, types, and distinctions of commercial banks such as private banks, public banks, and foreign banks. Explore the differences between retail banking and corporate banking.
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Social and Affordable Housing Fund (SAHF) Phase 2 Overview of the SAHF NSW Fund Philip Gardner Deputy Secretary, Commercial NSW Treasury 18 October 2017
Overview of the SAHF NSW Fund The SAHF has been set up with $1.1 billion in seed capital from the Government s cash reserves, to be invested over a term of 25 years The seed capital is managed by NSW Treasury Corporation (TCorp), with the fund s investment earnings being used to meet the funding obligations (i.e. monthly service payments) of the contracts under the SAHF program Source - facs.nsw.gov.au 2
SAHF dedicated for social & affordable housing initiatives Security and assurance: The SAHF NSW Fund Act 2016creates a ring-fenced structure, which ensures that the funds are quarantined for social and affordable housing initiatives Should the fund out-perform the longer term, the excess earnings will go towards further social and affordable housing proposals Separated funding: The SAHF expenditure is not within the Family and Community Services (FACS) budget. Therefore, funding is dedicated and not open to reprioritisation by FACS or Ministers Transparency and accountability: Payments from SAHF NSW will be made in a transparent manner with the annual financial reports being published on the Treasury website and subject to audit by the Auditor-General SAHF NSW Fund Act 2016 3
Governance and Investments in place Social and Affordable Housing NSW Fund Act 2016 Expenditure Review Committee Responsible Minister Minister for Social Housing SAHF NSW Special Deposit Account Treasurer $1.1 billion (Phase 1) SAHF Program Advisory Board Investment Function Funding Function Monthly Service Payments ($) SAHF Program Control Group Ring-fenced Investment Manager Asset and Liability Committee (ALCO) 4 1 2 3 5 Investment Strategy and Strategic Asset Allocation SAHF 1 contracts 4
