US - California Public Employees' Retirement System (CalPERS) has doubled its credit enhancement program (CEP) from US$5bn to $10bn, as demand from municipalities unable to secure credit continues.
It also agreed to eliminate the dollar based transaction limit of $250m, allowing it to move towards percentage based limits. The CEP was set up by CalPERS in 2005 to provide credit enhancement ...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date
