State and Local Government Securities Sales Resume
FOR IMMEDIATE RELEASE
August 2, 2011
The Treasury Department is resuming the sale of State and Local Government Series (SLGS) nonmarketable Treasury securities, effective 5 p.m. EDT today.
The Treasury Department suspended sales of SLGS on May 6, 2011. The suspension was necessary to assist Treasury's management of the debt subject to limit.
President Obama signed legislation today increasing the debt limit, allowing the Bureau of the Public Debt to accept subscriptions for new issues of SLGS securities.
The TreasuryDirect.gov website has more information on SLGS, available at http://www.treasurydirect.gov/govt/resources/faq/faq_slgs.htm.
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.