Reporting on non-depository city financial services.

A Local Law to amend the administrative code of the city of New York, in relation to the reporting on non-depository city financial services

This bill would require the Director of Management and Budget to issue to the Speaker of the Council, and to post on the Office of Management and Budget’s (OMB) website, quarterly reports on the City’s use of non-depository financial institutions for the immediately-preceding quarter, starting no later than January 31, 2024. Such reports would detail the fees and returns for a wide variety of financial services, including money market accounts and bond issues, but excluding pension investments.