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Treasury Certificates

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Treasury certificates
From 1963 to 1975, the Treasury issued something called a "Treasury Certificates". It was a nonmarketable, public issue with a short maturity, usually three months and never more than a one year. They were issued once or twice every month with odd interest rates (such as 5.471% and 6.053%) and sold at par.

Treasury Certificate
A debt security issued by the U.S. Treasury with a short maturity, usually only a few months, and a rather unusual interest rate, such as 4.586%. They are no longer issued to the public and are only issued at all when the Treasury seeks to borrow from the Federal Reserve. In that situation, the Treasury issues Treasury certificates to the New York Federal Reserve Bank; this can only occur with the approval of the Fed's Board of Governors.


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BCV director Domingo Maza Zavala said the bank sold its US Treasury certificates of deposit because "the US dollar has been depreciating relative to the euro.
Other analysts said development banks also have focused on the wrong priorities, channeling a large share of the funds to financial investments like short-term Treasury certificates (Certificados de Tesoreria, CETES) rather than to the type of productive activities that would contribute to creating jobs and helping the economy grow.
But 28-day Treasury Certificates (Cetes) offered a yield of 15.
 
 
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