Actually, it sounds like ICANN has learned their lesson. A few years back, ICANN made an incredibly irresponsible decision to place $25 million of reserve funds in a broker managed stock market account, which became $20 million when the market burped. Oops. At the time ICANN's CFO refused to take any responsibility or to admit that they'd screwed up, or to explain why they'd needed $25 million of registrants' money for the reserve if, as he now claimed, $20M was enough.
No, it sounds like they are still stupid!
I hope we all agree that ICANN's primary reponsibility toward its reserves is to be sure that the money is there when it's needed. That means something with no credit risk, like US government treasury bills, which are currently yielding 0.16% for six month bills and 0.18% for twelve months. When you subtract off even the most modest broker fees, that rounds to zero, so I can't blame them for just putting it in a zero interest account on which they can draw as needed.
There are many non-zero interest, no risk accounts.
What were you expecting them to do? Do you think it is possible to find suitable low-risk investments that pay significantly more?
American Express has a savings account which provides close to .98%. .98% of $352.3M is $3,452,540 per year. Or even a CitiGold checking account, you'd get .1% which wold still be $352,300/year.
Regards, John Levine, johnl@iecc.com, Primary Perpetrator of "The Internet for Dummies", Please consider the environment before reading this e-mail. http://jl.ly _______________________________________________ At-Large mailing list At-Large@atlarge-lists.icann.org https://atlarge-lists.icann.org/mailman/listinfo/at-large
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