Dear all, ICANN's Reserve Fund was established in 2007 with a target level of a minimum of 12 months of Operating expenses. Since then, the ICANN Organization and its risk profile have significantly evolved. An updated rationale for the existence of the Reserve Fund and for its target level is offered for public comment. Purpose: Offer an updated rationale for the Reserve Fund and its target level. Current Status: The Reserve Fund is governed in ICANN's Investment Policy. Next Steps: Following the public comment process, the ICANN Organization will consider the comments received and propose to the ICANN Board updates to the Investment Policy. Read more: https://www.icann.org/public-comments/reserve-fund-2017-10-12-en[icann.org]<https://urldefense.proofpoint.com/v2/url?u=https-3A__www.icann.org_public-2Dcomments_reserve-2Dfund-2D2017-2D10-2D12-2Den&d=DwMGaQ&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=HyTT2ymvadmiQcmo6B088sWOukGjEbibHJ64u5rMiME&m=YoluHMxUnaDc6261AWphq0yi-awK_oYrCbqqJv5MyeI&s=qSJ6b8qLBDd-o8V9ZzDxt0ojgRFHiFRsPdoN0POiqC4&e=> Deadline for input: 30 November 2017 Best regards, Joke Braeken ccNSO Policy Advisor joke.braeken@icann.org<mailto:joke.braeken@icann.org> Follow @ccNSO on Twitter: https://twitter.com/ccNSO Follow the ccNSO on Facebook: https://www.facebook.com/ccnso/ http://ccnso.icann.org