N-Q 1 form288.htm FORM N-Q form288.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT 
INVESTMENT COMPANY

Investment Company Act file number    811-4175 

Dreyfus Cash Management
(Exact name of Registrant as specified in charter) 

c/o The Dreyfus Corporation
200 Park Avenue
New York, New York 10166
(Address of principal executive offices)    (Zip code) 

Michael A. Rosenberg, Esq.
200 Park Avenue
New York, New York 10166
(Name and address of agent for service) 

Registrant's telephone number, including area code:    (212) 922-6000 
Date of fiscal year end:    1/31     
Date of reporting period:    10/31/08     

FORM N-Q

Item 1.    Schedule of Investments. 

STATEMENT OF INVESTMENTS 
Dreyfus Cash Management 
October 31, 2008 (Unaudited) 

Negotiable Bank Certificates of Deposit--38.5%    Principal Amount ($)    Value ($) 
 
 
ABN-AMRO Bank N.V. (London)         
       2.85%, 11/7/08         150,000,000    150,000,862 
Allied Irish Banks (Yankee)         
       2.82% - 3.12%, 11/20/08 - 1/6/09         735,000,000    735,010,004 
Banca Intesa SpA (Yankee)         
       3.02% - 3.12%, 1/12/09 - 2/27/09       1,100,000,000    1,100,000,000 
Bank of Ireland (Yankee)         
       3.15%, 2/9/09         600,000,000 a    600,000,000 
Bank of Scotland (Yankee)         
       3.16%, 3/5/09         400,000,000    400,000,000 
Bank of Scotland PLC (Yankee)         
       2.88%, 11/3/08         250,000,000    250,000,000 
Bank of Tokyo-Mitsubishi Ltd. (Yankee)         
       2.82%, 11/28/08         250,000,000    250,000,000 
Barclays Bank PLC (Yankee)         
       2.82% - 3.18%, 11/24/08 - 2/20/09         650,000,000    650,000,000 
Branch Banking & Trust Co.         
       2.88%, 11/5/08    10,000,000    10,000,000 
Calyon (London)         
       3.05%, 12/11/08         100,000,000    100,000,000 
Canadian Imperial Bank of Commerce (Yankee)         
       3.07%, 1/6/09 - 1/7/09         850,000,000    849,995,007 
Compass Bank         
       3.18%, 3/5/09         100,000,000    100,000,000 
Credit Agricole (London)         
       2.90%, 12/1/08         500,000,000    500,000,000 
Credit Suisse         
       4.69%, 11/10/08         475,000,000 b    475,000,000 
DEPFA BANK PLC (Yankee)         
       2.90%, 11/6/08 - 12/10/08    1,150,000,000 a    1,149,999,656 
Fifth Third Bank         
       2.80% - 2.85%, 11/17/08 - 11/26/08         370,000,000    370,000,000 
Fortis Bank (Yankee)         
       3.15%, 1/30/09         500,000,000    500,000,000 
Landesbank Hessen-Thuringen Girozentrale (Yankee)         
       2.90%, 12/12/08         500,000,000    500,000,000 
Natixis (Yankee)         
       2.90% - 2.99%, 12/11/08 - 12/29/08         500,000,000    500,029,620 
Royal Bank of Scotland PLC (Yankee)         
       3.00%, 12/23/08 - 12/30/08         675,000,000    675,010,569 
Skandinaviska Enskilda Banken AB (London)         
       3.12%, 2/27/09         450,000,000 a    450,000,000 
UniCredito Italiano Bank PLC (Yankee)         
       3.14%, 1/7/09         250,000,000 a    250,000,000 
UniCredito Italiano SpA (Yankee)         
       3.20%, 1/30/09    80,000,000    80,000,000 

Wachovia Bank, N.A.         
       3.05%, 12/15/08     200,000,000    200,000,000 
Total Negotiable Bank Certificates of Deposit         
       (cost $10,845,045,718)        10,845,045,718 
Commercial Paper--46.6%         
 
 
Alpine Securitization Corp.         
       3.61% - 4.52%, 11/14/08 - 11/20/08     450,000,000 a    449,200,000 
ASB Finance Ltd.         
       2.83%, 11/21/08     250,000,000 a    249,612,500 
Atlantic Asset Securitization LLC         
       3.51% - 4.07%, 11/17/08 - 11/19/08     300,000,000 a    299,465,000 
Atlantis One Funding Corp.         
       0.25%, 11/3/08     600,000,000 a    599,991,667 
Banco Bilbao Vizcaya Argenteria Puerto Rico         
       3.14%, 2/11/09     300,000,000    297,373,500 
Bank of Ireland         
       3.15% - 3.16%, 2/9/09 - 2/20/09     950,000,000 a    941,330,417 
Bank of Scotland PLC         
       2.80%, 11/13/08     400,000,000    399,632,000 
Barton Capital LLC         
       4.12%, 11/17/08     183,163,000 a    182,829,236 
BNP Paribas Finance Inc.         
       0.25%, 11/3/08     700,000,000    699,990,278 
Cancara Asset Securitisation Ltd.         
       3.81% - 4.77%, 11/12/08 - 11/19/08    1,225,000,000 a    1,223,107,292 
CHARTA LLC         
       4.52%, 11/19/08     300,000,000 a    299,325,000 
CIESCO LLC         
       4.01%, 11/17/08     260,000,000 a    259,537,778 
Citigroup Funding Inc.         
       2.93% - 3.46%, 11/13/08 - 11/25/08     600,000,000    598,849,500 
Commerzbank U.S. Finance Inc.         
       3.00%, 1/16/09    1,000,000,000    993,751,111 
DnB NOR Bank ASA         
       2.88%, 11/3/08     100,000,000 a    99,984,222 
Fairway Finance Company LLC         
       4.77%, 11/7/08 - 11/12/08     625,000,000 a    624,175,347 
Gemini Securitization Corp., LLC         
       3.61% - 4.42%, 11/14/08 - 11/21/08    1,105,000,000 a    1,102,885,903 
General Electric Capital Corp.         
       0.25%, 11/3/08     750,000,000    749,989,583 
Greenwich Capital Holdings Inc.         
       3.07%, 1/12/09     150,000,000    149,091,000 
Hannover Funding Company LLC         
       2.75%, 11/3/08     225,000,000 a    224,965,625 
Matchpoint Master Trust         
       4.67% - 4.77%, 11/10/08 - 11/12/08     250,000,000 a    249,679,792 
Mont Blanc Capital Corp.         
       3.62% - 4.17%, 11/18/08 - 12/22/08     425,000,000 a    423,774,583 
Natexis Banques Populaires US Finance Co. LLC         
       2.95%, 12/2/08     250,000,000    249,374,188 
Picaros Funding LLC         

       4.52%, 11/13/08    250,000,000 a    249,625,000 
Salisbury Receivables Company LLC         
       4.27%, 11/17/08    400,000,000 a    399,244,445 
Swedbank (ForeningsSparbanken AB)         
       2.96% - 3.04%, 11/7/08 - 12/9/08    400,000,000    398,995,000 
Thames Asset Global Securitization No. 1 Inc.         
       5.27%, 11/7/08    125,000,000 a    124,890,625 
Three Pillars Funding LLC         
       4.01% - 5.02%, 11/13/08 - 11/20/08    625,829,000 a    624,720,305 
Total Commercial Paper         
       (cost $13,165,390,897)        13,165,390,897 
Corporate Notes--6.4%         
 
 
Banca Intesa SpA         
       5.09%, 11/14/08    250,000,000 b    250,000,000 
Barclays Bank PLC         
       3.55%, 11/29/08    500,000,000 b    500,000,000 
Citigroup Funding Inc.         
       2.20%, 5/8/09    400,000,000 b    400,000,000 
General Electric Capital Corp.         
       3.32%, 11/25/08    100,000,000 b    100,000,000 
Morgan Stanley         
       4.15%, 11/4/08    250,000,000 b    250,000,000 
Wachovia Bank, N.A.         
       3.47%, 11/29/08    250,000,000 b    250,000,000 
Wells Fargo & Co.         
       4.06%, 11/3/08     40,000,000 b    40,000,000 
Total Corporate Notes         
       (cost $1,790,000,000)        1,790,000,000 
Time Deposits--5.2%         
 
 
Bank of America N.A. (Grand Cayman)         
       0.12%, 11/3/08    518,000,000    518,000,000 
HSH Nordbank AG (Grand Cayman)         
       0.25%, 11/3/08    350,000,000    350,000,000 
M&I Marshall & Ilsley Bank Milwaukee, WI (Grand Cayman)         
       0.25%, 11/3/08    100,000,000    100,000,000 
Manufacturers & Traders Trust Company (Grand Cayman)         
       0.25%, 11/3/08    500,000,000    500,000,000 
Total Time Deposits         
       (cost $1,468,000,000)        1,468,000,000 
Repurchase Agreements--3.2%         
 
 
Barclays Financial LLC         
       0.15%, dated 10/31/08, due 11/3/08 in the amount of         
       $200,002,500 (fully collateralized by $190,552,500         
       U.S. Treasury Notes, 3.625%-6.50%, due         
       2/15/10-5/15/13, value $204,000,011)    200,000,000    200,000,000 
JP Morgan Chase & Co.         
       0.30%, dated 10/31/08, due 11/3/08 in the amount of         
       $700,017,500 (fully collateralized by $715,899,308         
       U.S. Treasury Bills, due 11/13/08-7/2/09, value         
       $714,000,553)    700,000,000    700,000,000 
Total Repurchase Agreements         

(cost $900,000,000)        900,000,000 
Total Investments (cost $28,168,436,615)    99.9%    28,168,436,615 
Cash and Receivables (Net)    .1%    19,671,514 
Net Assets    100.0%    28,188,108,129 

a      Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2008, these securities amounted to $11,078,344,393 or 39.3% of net assets.
 
b      Variable rate security--interest rate subject to periodic change.
 

At October 31, 2008, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Various inputs are used in determining the value of the fund's investments relating to Financial Accounting Standard No. 157 (FAS 157), 
       Fair Value Measurements. 
       These inputs are summarized in the three broad levels listed below. 
       Level 1 - quoted prices in active markets for identical securities. 
       Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, 
       credit risk, etc.) 
       Level 3 - significant unobservable inputs (including fund's own assumptions in determining the fair value of investments). 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those 
securities. For example, money market securities are valued using amortized cost, in accordance with rules under the Investment 
Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained 
from a quoted price in an active market, such securities are reflected as Level 2. 
The following is a summary of the inputs used as of October 31, 2008 in valuing the fund's investments carried 
       at fair value: 

Item 2.    Controls and Procedures. 

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3.    Exhibits. 

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dreyfus Cash Management

By:    /s/ J. David Officer 
   
    J. David Officer 
President
 
Date:    December 18, 2008 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:    /s/ J. David Officer 
   
    J. David Officer 
President
 
Date:    December 18, 2008 

By:    /s/ James Windels 
   
    James Windels 
Treasurer
 
Date:    December 18, 2008 

EXHIBIT INDEX

      (a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)

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