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SLUGS |
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See State and local government series. State and Local Government Series Non-negotiable securities the Federal government sells to state and local governments. SLGS are an investment vehicle for issuers of state and local debt securities in which they may invest the proceeds from such issues. SLGS may have time deposits or demand deposits. Time deposit SLGS have maturities of anywhere from 15 days to 40 years and have interest rates one basis point below Treasury securities with similar maturities. Demand deposit SLGS have one-day maturities that are automatically rolled over until the security holder withdraws the deposit; their interest rates are based on the most recent auction of 13-week Treasury securities. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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