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Treasury Resumes Sales of State and Local Government Securities

FOR IMMEDIATE RELEASE

November 2, 2015

The U.S. Department of the Treasury is resuming the sale of State and Local Government Series (SLGS) nonmarketable Treasury securities, effective Tuesday, November 3, 2015 at 12:00 Noon EST.

The Treasury Department suspended the sales of SLGS on March 13, 2015. The suspension was necessary to assist Treasury’s management of the debt subject to the limit.

On November 2, 2015, President Obama signed H.R. 1314 (Bipartisan Budget Act of 2015) which suspends the debt limit through March 15, 2017, allowing the Bureau of the Fiscal Service to begin accepting subscriptions for new issues of SLGS securities.

The SLGS program began in 1972 to assist state and local government entities in complying with IRS arbitrage regulations. The securities are not available to the general public.

The TreasuryDirect.gov website has more information about SLGS, available at  http://www.treasurydirect.gov/govt/resources/faq/faq_slgs.htm