Decision ID: 003806

In October 2010 the 1992 Fund Administrative Council, the 1971 Fund Administrative Council and the Supplementary Fund Assembly noted the recommendation by the joint Investment Advisory Body that the Director should insert an additional clause in the  Funds’ Hedging Guidelines to cover exceptional circumstances where amounts held with a financial institution may exceed the investment limits set out in the IOPC Funds’ Financial Regulations for substantial periods of time in cases where there were incidents in a Member State  whose currency was not freely convertible.