Brief: Braemar Hotels & Resorts Issues Statement Regarding Cash Holdings

Braemar Hotels & Resorts

14/03/2023 23:26

March 14 (Reuters) - Braemar Hotels & Resorts Inc
 BHR.N :
    * BRAEMAR HOTELS & RESORTS ISSUES STATEMENT REGARDING CASH
HOLDINGS
    * BRAEMAR HOTELS & RESORTS - IN LIGHT OF RECENT EVENTS IN
BANKING
INDUSTRY, CO THOUGHT WOULD BE HELPFUL TO PROVIDE CLARITY ON ITS
CURRENT CASH HOLDINGS
    * ABOUT 60% OF COMPANY'S CASH IS HELD IN SHORT-TERM U.S.
TREASURY
SECURITIES WITH MATURITY DATES OF LESS THAN 90 DAYS
    * APPROXIMATELY 18% IS HELD AT COMMERCIAL BANKS IN INSURED
CASH
SWEEP ("ICS") ACCOUNTS, WHICH ARE FULLY INSURED BY FDIC
    * 6% OF COMPANY CASH RELATES TO PROPERTY-LEVEL OPERATING
CASH
DEPOSITED WITH OTHER COMMERCIAL BANKS.
    * BRAEMAR HOTELS & RESORTS - APPROX 16% RELATES TO
PROPERTY-LEVEL
OPERATING CASH DEPOSITED IN COMMERCIAL BANKS THAT HAVE BEEN
DESIGNATED AS G-SIB BY FSB

Source text for Eikon:  ID:nPn9pkwDBa 
Further company coverage:  BHR.N 

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