Historic record of municipal investment rates, and savings versus PWLB Certainty Rate (including fees).
Annualised summary of savings vs PWLB Certainty Rate (including fees). Weighted mean calculated based on when individual investments were made, vs the PWLB rate on that day.
Year 1
Mean saving
25bps
Weighted mean
28bps
Year 2
Mean saving
35bps
Weighted mean
27bps
Rate and saving against the PWLB Certainty Rate. Data is shown for each launch window since February 2024 (launch windows last for three months, and all municipal investments launched in the window share the same rate and terms).
| Period start | Rate | Structure | First day saving | Mean saving | Weighted saving |
|---|---|---|---|---|---|
| 26 February 2024 | 4.95% | Annuity | 11bps | 15bps | 13bps |
| 28 May 2024 | 4.85% | Annuity | 39bps | 8bps | 23bps |
| 11 September 2024 | 4.35% | Annuity | 15bps | 48bps | 51bps |
| 2 December 2024 | 4.68% | Annuity | 21bps | 30bps | 31bps |
| 3 March 2025 | 4.55% | Annuity | 31bps | 17bps | 20bps |
| 2 June 2025 | 4.45% | Annuity | 28bps | 17bps | 15bps |
| 1 September 2025 | 4.51% | Annuity | 18bps | 11bps | 9bps |
| 1 December 2025 | 4.50% | Maturity | 24bps | 24bps | 28bps |
| 2 March 2026 | 4.39% | Maturity | 18bps | 82bps | 81bps |
| 18 June 2026 | 4.95% | Maturity | 19bps | 35bps | 37bps |
First day saving: saving vs PWLB Certainty Rate on the day the window rate was set.
Mean saving: average saving vs PWLB Certainty Rate calculated daily across the window.
Weighted saving: saving based on when funds were actually invested; calculated by taking daily investment totals and comparing to PWLB Certainty Rate on the day invested.