Western Australian government agencies and local governments are able to invest with WATC. WATC provides State Government Guaranteed, AA+ / Aa2 rated, at call and fixed term investment products. WATC’s Investment Facility products available to clients are:
- Overnight Cash Deposit Facility
- Term Deposit Facility
WATC also offers a Working Capital Facility to assist clients in managing their short-term cash requirements by combining a low cost overdraft facility with an interest earning cash management facility within the same account.
Overnight Cash Deposit Facility (OCDF)
The OCDF allows funds to be invested overnight. The outstanding balance can be increased or decreased on a daily basis. Interest is calculated on the daily balance and either paid out or reinvested monthly. The interest rate is linked to the Reserve Bank of Australia’s target cash rate.
Term Deposit Facility (TDF)
The Term Deposit Facility enables funds to be invested at a fixed rate, for any term ranging from 7 to 365 days. Upon maturity, principal and/or interest can be reinvested, paid to a nominated bank account or transferred to an OCDF. Term deposits are redeemable at short notice, subject to a potential early termination adjustment.