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.

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.
References in periodicals archive ?
Slugs can find their way back to where they came from by leaving a unique scent trail.
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.
Britain is crawling with 20% more species of slugs than ever before.
Maine had a wet summer last year and slugs hit the state's potato crop hard.
Caption: Two hermaphroditic sea slugs, each just a few millimeters long, position for mutual simultaneous sperm transfer and add a second connection to each other's heads.
The slug impacted slightly high on the shoulder, passing through heavy muscle, both scapulas, and jellying the vitals.
As slugs and snails are particularly rampant in my area, I have resorted to putting young leafy plants, which these pests love, in pots and either placing the pots on metal stands which slugs have trouble in climbing, or putting copper strips around the pots to deter them.
Once, after writing I was unable to measure a slug accurately because it came through a barrel with an odd number of grooves, I received an e-mail from a reader named Ken Caldwell.