Raw Morning Position Data
UNFORMATTEDMERIDIAN INDUSTRIAL — DAILY TREASURY PULL
as of 07:15 ET June 11 2026
(pulled from TMS + bank portals, not reconciled yet)
=== CASH POSITIONS ===
Citibank operating (USD) $142,380,441
JPM concentration acct (USD) $84,210,055
Wells Fargo payroll reserve $12,500,000
BofA CAD acct (CAD) C$9,840,000 (~$7.2M USD)
HSBC EUR acct (EUR) €18,450,000 (~$20.1M USD)
Petty / misc (various) $1,204,318
--> total est. USD equivalent ~$267.6M
prior day total was ~$254.9M (+$12.7M day-over-day, mainly EUR revaluation + TechBridge wire in)
=== MMF / SHORT-TERM INVESTMENTS ===
Federated Hermes Govt MMF $110,000,000
BlackRock T-Fund Inst $75,000,000
3-mo T-Bill ladder (matures rolling)
Jun-12 maturity $25,000,000 <-- rolls tomorrow
Jun-26 maturity $25,000,000
Jul-10 maturity $25,000,000
Total investments: $260,000,000
=== EXPECTED INFLOWS TODAY ===
TechBridge Mfg wire (confirmed) $18,500,000 already posted overnight
Northgate Retail receivable $4,200,000 expected ~11am
FX settlement EUR sell $6,300,000 Citi FX desk, ~2pm
T-Bill coupon accrual (Jun-26) $48,750 minor
=== EXPECTED OUTFLOWS TODAY ===
Payroll funding (bi-weekly) -$22,400,000 wire at 10am
Vendor payment run (AP) -$8,750,000 ACH batch noon
Capex funding -- Plant E3 -$15,000,000 wire to escrow 3pm (pre-approved)
Short-term facility repayment -$5,000,000 matures today, line of credit
=== FX EXPOSURE ===
EUR long ~€18.5M -- no hedge in place, rate moved 1.3% favorable vs. prior day
CAD long C$9.8M -- partially hedged (50%), forward cover at 0.7285
GBP -- no exposure currently
=== KEY WIRES / NOTABLE ===
TechBridge $18.5M -- confirmed received (large AR collection, invoice batch Q2-2026)
Plant E3 capex $15M -- wire to construction escrow, board-approved, expected ~3pm
Payroll $22.4M -- bi-weekly, standard, funding from payroll reserve + operating
=== LIQUIDITY / COVERAGE ===
Available revolver (JPM $200M facility): $185,000,000 drawn $15M
CP program (available): $50,000,000
LCR (internal est.): 128% (policy min 110%)
NSFR (internal est.): 114% (policy min 100%)
Days liquidity at current burn: ~38 days
=== RATES / MARKET ===
SOFR overnight: 5.31%
Fed funds target: 5.25-5.50%
USD/EUR: 1.0892 (+1.3% vs yday)
USD/CAD: 0.7312
MMF yield (Federated): 5.28%
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Position Summary
Liquidity & Coverage
Notable Movements
| Item | Amount | Impact |
|---|---|---|
| TechBridge Mfg wire (AR collection) | +$18.5M | POSTED ✓ |
| Payroll funding (bi-weekly) | −$22.4M | SCHEDULED 10AM |
| Vendor AP batch | −$8.75M | ACH NOON |
| Plant E3 capex to escrow | −$15.0M | WIRE ~3PM |
| T-Bill maturity (Jun-12 ladder) | +$25.0M | ROLLS TOMORROW |
| STF line repayment | −$5.0M | MATURES TODAY |
| EUR revaluation (1.3% favorable) | +~$0.9M mark | UNHEDGED |