Trustees approve opening investment account; BOK and BOK Capital Markets present strategy

Trustees approved an agenda item to open an investment account with Bank of Oklahoma Financial and heard a market presentation from BOK’s capital‑markets affiliate.

Staff said the board had approved an investment policy last month and the action on Oct. 23 authorizes opening an account to invest excess reserve funds consistent with that policy. Blake Murray, Justin Close and Zach Miles of BOK Capital Markets gave a brief presentation describing eligible securities (U.S. government‑backed instruments), a yield curve environment in which short‑term rates were higher than some longer‑term rates, and a recommendation to keep short‑term funds liquid and match maturities to anticipated cash needs.

BOK presenters emphasized safety and liquidity: eligible investments were described as full‑faith‑and‑credit U.S. government securities with secondary‑market liquidity for term holdings, and same‑day liquidity for certain short‑term instruments. Staff said the trustees would not need an additional approval layer beyond investment‑policy compliance for staff to select investments; recommended securities will be chosen in coordination with staff and presented for concurrence as needed.

Trustees approved the item to open the account by motion and roll‑call vote. Presenters noted market expectations for rate cuts later in the year and said recommendations will evolve as market conditions change.