The first state budget of 2011 has been handed down, with the Victorian update necessitating Treasury Corporation of Victoria (TCV) (AAA/Aaa) to increase its funding programme to A$6.6 billion (US$7.1 billion) for the 2011/12 financial year – from a 2010/11 requirement of A$5.85 billion. The agency tells KangaNews it will continue to pursue long-dated domestic issuance while also monitoring opportunities in offshore markets.