Choice of fixed vs floating interest rate PWLB and bank borrowing 2000-2018

Joel M Benjamin made this Freedom of Information request to Merthyr Tydfil Council

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Dear Merthyr Tydfil Council,

Please provide answers to the following questions in Ms Excel format for your borrowed position between financial years 2000/01 and 2018/19

1) If you borrowed on fixed interest rate terms. How much interest would you have saved if you'd borrowed on floating rate terms?

2) How much has your real capital position changed due to borrowing on fixed rate terms? (If you'd borrowed on floating rates, the answer would be zero)

3) What advice did you take on the choice of fixed vs floating PWLB rates, bearing in mind the PWLB provides both fixed and floating rate loans, and both are priced at market rates?

4) What advice did you take on the choice of fixed vs floating bank loans, bearing in mind banks provides both fixed and floating rate loans, and both are priced at market rates?

5) What is your councils proportion of fixed to floating interest rate debt? and how does this vary from guidance/ best practice?

6) If you chose to restructure and extend the duration of your loans over this period - upon whose advice was such action taken?

7) If you could go back in time, would the majority of your borrowing have been at floating rates instead of fixed rate?

Yours faithfully,

Joel M Benjamin

FOI (Freedom of Information), Merthyr Tydfil Council

Dear Sir/Madam

 

RE:     Freedom Of Information Act 2000 – INFORMATION Request

 

We acknowledge your request for information about bank borrowing received
by the Data Disclosure and Records Officer on 12^th November 2018.

 

We are considering your request and you will receive the Councils full
response within the [1]statutory time limit of 20 working days, which in
this instance is no later than 10^th December 2018, unless the information
is exempt or we require additional time to consider whether disclosure is
in the public interest in accordance with [2]Section 2 of the Act.  

 

The [3]Act defines a number of exemptions which may prevent release of the
information you have requested. Before we provide the information we will
consider whether it is proper to release it and if any of the exemption
categories do apply then the information may not be released. We will tell
you if this is the case, and you will have a right of appeal. If the
information you request contains reference to a third party then they may
be consulted prior to a decision being taken on whether or not to release
the information to you. You may have to pay a fee for this information; we
will consider this and let you know. If a fee is applicable the Council
will issue you with a Fees Notice. The 20 working day time limit will not
start until we receive your payment. If you have any queries or concerns,
please contact the Data Disclosure and Records Officer on 01685 725000 or
[4][Merthyr Tydfil Council request email]. You can find out more about the Act from the
Information Commissioner at:

 

Information Commissioner’s Office (Wales)

2^nd Floor

Churchill House

Churchill Way

Cardiff

CF10 2HH

 

Tel: 029 2067 8400 

Fax: 029 2067 8399

Email: [5][email address]

Website: [6]www.ico.org.uk

 

Responses to completed requests for information are published online
within our disclosure log. Our disclosure log is located in the find it
section of our external website ([7]www.merthyr.gov.uk). Please click
[8]HERE to view our disclosure log.

 

Yours faithfully

 

Swyddog Datgelu Data a Chofnodion/Data Disclosure and Records Officer

Tîm Llywodraethu Gwybodaeth/Information Governance Team

Cyngor Bwrdeistref Sirol Merthyr Tudful/Merthyr Tydfil County Borough
Council

 

Canolfan Dinesig/Civic Centre

Stryd Y Castell/Castle Street

Merthyr Tudful/Merthyr Tydfil

CF47 8AN/CF47 8AN

Ffon/Tel: 01685 725000

E-bost/E-mail: [9][Merthyr Tydfil Council request email]

 

Croesawn ni ohebu yn y Gymraeg/We welcome correspondence in Welsh.

Croesawn ohebu yn Gymraeg a fydd hyn ddim yn arwain at oedi.

We welcome correspondence in Welsh and this will not lead to a delay.

Mae'r e-bost hwn ac unrhyw ffeiliau a drosglwyddir gydag ef yn gyfrinachol
ac wedi'u bwriadu ar gyfer pwy bynnag y cyfeirir ef ato neu atynt. Mae
cynnwys yr e-bost hwn cynrychioli barn y sawl a enwir uchod, felly nid
ydyw'n dilyn ei fod yn cynrychioli barn Cyngor Bwrdeistref Sirol Merthyr
Tudful.

Cyngor Bwrdeistref Sirol Merthyr Tudful
Canolfan Dinesig
Stryd Y Castell
Merthyr Tudful
CF47 8AN

This e-mail and any files transmitted with it are confidential and
intended solely for the use of the individual or entity to whom they are
addressed. The contents of this e-mail represent the views of the
individual(s) named above and do not necessarily represent the views of
Merthyr Tydfil County Borough Council.

Merthyr Tydfil County Borough Council
Civic Centre
Castle Street
Merthyr Tydfil
CF47 8AN

Teleffon\Telephone: 01685 725000

[10]http://www.merthyr.gov.uk

References

Visible links
1. http://www.legislation.gov.uk/ukpga/2000...
2. http://www.legislation.gov.uk/ukpga/2000...
3. http://www.legislation.gov.uk/ukpga/2000...
4. mailto:[Merthyr Tydfil Council request email]
5. mailto:[email address]
6. http://www.ico.org.uk/
7. http://www.merthyr.gov.uk/
8. http://www.merthyr.gov.uk/English/Servic...
9. mailto:[Merthyr Tydfil Council request email]
10. http://www.merthyr.gov.uk/

FOI (Freedom of Information), Merthyr Tydfil Council

Dear Sir/Madam

 

RE:     Freedom Of Information Act 2000 – INFORMATION Request

 

Further to the acknowledgment email on the 15^th November 2018, we cannot
sufficiently identify the information you have requested from the details
you have provided.  To help us respond to your request could you please
clarify the following point:

 

The information you have requested is too generic, the data is not
available. Can you be more specific in your request to help us in
collating the information.

 

Once we receive this we will consider your request and you will receive
the information requested within the statutory timescale of 20 working
days, unless the information is exempt or we require additional time to
consider whether disclosure is in the public interest in accordance with
Section 2 of the Freedom of Information Act.

 

You can find out more about the Act from the Information Commissioner at:

 

Information Commissioner’s Office (Wales)

2^nd Floor,

Churchill House,

Churchill Way,

Cardiff

CF10 2HH

 

Tel: 029 2067 8400 

Fax: 029 2067 8399

Email: [1][email address]

Website: [2]www.ico.org.uk

If you have any queries or concerns then please contact the Data
Disclosure and Records Officer on 01685 725000.

Yours faithfully

 

Swyddog Datgelu Data a Chofnodion/Data Disclosure and Records Officer

Tîm Llywodraethu Gwybodaeth/Information Governance Team

Cyngor Bwrdeistref Sirol Merthyr Tudful/Merthyr Tydfil County Borough
Council

 

Canolfan Dinesig/Civic Centre

Stryd Y Castell/Castle Street

Merthyr Tudful/Merthyr Tydfil

CF47 8AN/CF47 8AN

Ffon/Tel: 01685 725000

E-bost/E-mail: [3][Merthyr Tydfil Council request email]

 

Croesawn ni ohebu yn y Gymraeg/We welcome correspondence in Welsh.

Croesawn ohebu yn Gymraeg a fydd hyn ddim yn arwain at oedi.

We welcome correspondence in Welsh and this will not lead to a delay.

Mae'r e-bost hwn ac unrhyw ffeiliau a drosglwyddir gydag ef yn gyfrinachol
ac wedi'u bwriadu ar gyfer pwy bynnag y cyfeirir ef ato neu atynt. Mae
cynnwys yr e-bost hwn cynrychioli barn y sawl a enwir uchod, felly nid
ydyw'n dilyn ei fod yn cynrychioli barn Cyngor Bwrdeistref Sirol Merthyr
Tudful.

Cyngor Bwrdeistref Sirol Merthyr Tudful
Canolfan Dinesig
Stryd Y Castell
Merthyr Tudful
CF47 8AN

This e-mail and any files transmitted with it are confidential and
intended solely for the use of the individual or entity to whom they are
addressed. The contents of this e-mail represent the views of the
individual(s) named above and do not necessarily represent the views of
Merthyr Tydfil County Borough Council.

Merthyr Tydfil County Borough Council
Civic Centre
Castle Street
Merthyr Tydfil
CF47 8AN

Teleffon\Telephone: 01685 725000

[4]http://www.merthyr.gov.uk

References

Visible links
1. mailto:[email address]
2. http://www.ico.org.uk/
3. mailto:[Merthyr Tydfil Council request email]
4. http://www.merthyr.gov.uk/