Charter Currents

Charter Currents: Charter Cash Management Strategies You Can Bank On

Premackeric 400x400
Eric Premack
Executive Director & Founder
Charter School Development Center
Category: Finance
Icons date 24x24 April 3, 2023

Recent federal takeovers of two regional banks and instability in others in recent weeks triggered sleepless nights for many, including charter school leaders. Ongoing instability in the banking industry, combined with high inflation and higher-than-usual interest rates means charter school leaders would be wise to review their banking and treasury arrangements. While federal officials took action to safeguard depositors at two banks, they have waffled regarding ongoing depositor protection and all the while banks continue to borrow heavily from the Federal Reserve’s discount window to maintain...