The Treasury Department has begun posting more detailed pricing information on time-deposit State and Local Government Series Securities (SLGS) for issuers and other market participants.

SLGS typically are purchased by tax-exempt bond issuers for advance refunding escrows to ensure the investments comply with the federal tax law’s yield restriction or arbitrage rebate requirements. Unlike Treasuries purchased in the open market, SLGS can be specially tailored to issuers’ municipal bond maturities.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.