Treasury Corporation

Also known as:
State Records Authority of New South Wales
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Full description

The Treasury Corporation was established on 10 June 1983 (1) as the central financing authority for the New South Wales Public Sector. Treasury Corporation's financial services included -

* Borrowing from both domestic and international sources to meet client's financial needs
* Conducting a term deposit service called the Authority Deposit Facility for the investment of surplus funds of public bodies
* Managing Hour-Glass Investment Facilities where a range of managed investment funds are used by authorities
* Managing "tailored" management of cash and fixed interest portfolios on behalf of clients who do not wish to participate in the pooled arrangements of the Hour-Glass Facilities.
* Debt management
* Providing advice on structured finance transactions,
* Economic analysis
* Financial risk measurement and assessments of internal control
* Providing industrial profiles of the New South Wales Economy
* Financing Olympic Projects
* Providing the system of NSW Treasury Bonds enabling direct public investment

The Treasury Corporation (Amendment) Act (No.50 1991) amended the Treasury Corporation Act (No.75 1983) to ensure that the -

* Treasury Corporation can serve as an agent of the Government in cases where the Government raises finance directly rather than as a guarantor; and
* Financial accommodations obtained by local government councils from the Treasury Corporation are repaid even if its validity falls into question

(1) New South Wales Government Gazette 1983 Vol.2, 10 June 1983 p.2571.

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