State and local government series

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State and local government series (SLUGs)

Special nonmarketable certificates, notes, and bonds offered to state and local governments as a means to invest proceeds from their own tax-exempt financing. Interest rates and maturities comply with IRS arbitrage provisions. Slugs are offered in both time deposit and demand deposit forms. Time deposit certificates have maturities of up to one year. Notes mature in one to ten years and bonds mature in more than ten years. Demand deposit securities are one-day certificates rolled over with a rate adjustment daily.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
"We believe that the combination of volatiles and yeast attracts the slugs and the alcohol content has been shown to have little bearing on effectiveness."
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We wanted to compare 50-vard results with both types of slugs with an I/C choke tube installed, then switch out the I/C tube for our rifled tube to see what the difference in group size would be.
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The discoveries were made as researchers collected slugs to be catalogued in a comprehensive 140 page identification guidebook published this month by the Field Studies Council.
They provide the perfect hiding places for slugs in the daytime.