DEPOSITS WITH INTERBANK MARKET MAKER

12 Months Ended

Dec. 31, 2023

DEPOSITS WITH INTERBANK MARKET MAKER [Abstract]

DEPOSITS WITH INTERBANK MARKET MAKER

Note 8. DEPOSITS WITH INTERBANK MARKET MAKER

The Trust’s counterparty with regard to its forward currency transactions is NatWest Markets Plc (“NatWest”). The Trust has entered into an International Swap and Derivatives Association, Inc. agreement (“ISDA Agreement”) with NatWest which governs these transactions. The credit ratings reported by the three major rating agencies for NatWest were considered investment grade as of December 31, 2023. Margin requirements are satisfied by the deposit of cash with NatWest. The Trust typically earns interest income on its assets deposited with NatWest.