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POLICY ON BORROWING FROM COMBINED INVESTMENT PORTFOLIOS OF THE SHORT-TERM INVESTMENT POOL AND THE TOTAL RETURN INVESTMENT POOL
Approved May 19, 1989
Revised March 18, 1999
Amended November 2008

A. For the Commercial Paper Program:
(1) That the President be authorized to either utilize a portion of the combined investment portfolios of STIP/TRIP as liquidity support for the CP Program or, if determined necessary by the President, negotiate a standby letter of credit, line of credit or other liquidity agreement provided that repayment of any advances shall be provided from previously approved sources.

B. For Medical Centers’ Working Capital Borrowing:
(1) That the President be authorized to utilize the combined investment portfolios of STIP/TRIP for medical centers’ working capital borrowings. A hospital’s working capital borrowings from STIP/TRIP for a month shall not exceed 60 percent of the hospital’s total accounts receivable for that same month (total accounts receivable being defined as patient accounts receivable, net of allowances).

C. For Mortgage Origination Program (MOP) Loans:
(1) That the President be authorized to utilize the liquidity available in the combined investment portfolios of STIP/TRIP for the Mortgage Origination Program (MOP) Loans.