State and Local Government Securities Sales Resume
FOR IMMEDIATE RELEASE
February 18, 2014
The Treasury Department is resuming the sale of State and Local Government Series (SLGS) nonmarketable Treasury securities, effective today, February 18, 2014 at 12:00 noon. EST.
The Treasury Department suspended sales of SLGS on February 7, 2014. The suspension was necessary to assist Treasury's management of the debt subject to limit.
On February 15, 2014, President Obama signed S. 540, the Temporary Debt Limit Extension Act which suspends the debt limit through March 15, 2015, 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 on SLGS, available at http://www.treasurydirect.gov/govt/resources/faq/faq_slgs.htm.