Info Bytes 10.13.22
CIC Info Bytes are frequent, succinct updates that provide educational and engagement opportunities to help your community thrive!
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86 responses make this survey a huge success. Thanks to everyone who participated and shared it with your colleagues and peers.
Have a comment or question? Please let us know!
🚨💰🚨 INTEREST RATES & MONETARY POLICY 🚨💰🚨
Liquidity Crunch for US Treasuries?
Take a peek at the sizzling yields. Are your association’s funds invested wisely?
Janet Yellen is worried about Treasuries. The Treasury secretary cited concerns about the potential for a breakdown in trading as her department leads an effort to shore up that crucial market. “We are worried about a loss of adequate liquidity in the market,” Yellen said Wednesday. The balance-sheet capacity of broker-dealers to engage in Treasuries market-making hasn’t expanded much, while the overall supply of Treasuries has climbed, she noted. But she made sure to emphasize that tackling inflation remains the administration’s biggest priority. - Bloomberg Evening Briefing 10/12/22
Questions and comments have come in asking for more clarity relative to governing documents. For example, what’s the purpose of policies and resolutions? Our hierarchy pyramid is now accompanied by an additional diagram that provides additional context.
There’s far too much information to compress everything into a single page and keep the text readable. View on the website and click through helpful links to individual pages.
Fair Housing Disability Discrimination
Let this serve as a reminder: stay in bounds of the Fair Housing Act.
This is an active case. You’ll find next steps offered at the end of the FHEO notice below. I find the case fascinating and instructive because there appear to be clear failures:
1) by the staff and management company
2) by the association's legal counsel
3) by the Board. The Board is the final frontier of oversight. Please chuckle when anyone tells you to “leave things to the professionals.”
You will notice that the Association's position appears to have softened over time as the case escalated and there was no doubt more "serious" correspondence about the matter and the involvement of HUD.
You can read the full charge here (FHEO No. 09-18-1943-8 - FINAL 092722 - HUD Disability Discrimination).
HUD Press Release: HUD CHARGES CALIFORNIA HIGH-RISE CONDOMINIUM OPERATORS WITH DISABILITY DISCRIMINATION
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