Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 31 - Money and Finance: Treasury |
Subtitle B - Regulations Relating to Money and Finance |
Chapter II - Fiscal Service, Department of the Treasury |
SubChapter A - Bureau of the Fiscal Service |
Part 344 - U.S. Treasury Securities - State and Local Government Series |
Subpart A - General Information |
§ 344.0 - What does this part cover?
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§ 344.0 What does this part cover?
(a) What is the purpose of the SLGS securities offering? The Secretary of the Treasury (the Secretary) offers for sale non-marketable State and Local Government Series (SLGS) securities to provide issuers of tax-exempt securities with investments from any eligible source of funds (as defined in § 344.1).
(b) What types of SLGS securities are governed by this part? This part governs the following SLGS securities:
(1) Time Deposit securities —may be issued as:
(i) Certificates of indebtedness;
(ii) Notes; or
(iii) Bonds.
(2) Demand Deposit securities —may be issued as certificates of indebtedness.
(3) Special Zero Interest securities. Special Zero Interest securities, which were discontinued on October 28, 1996, were issued as:
(i) Certificates of indebtedness; or
(ii) Notes.
(c) In what denominations are SLGS securities issued? SLGS securities are issued in the following denominations:
(1) Time Deposit securities —a minimum amount of $1,000, or in any larger whole dollar amount; and
(2) Demand Deposit securities —a minimum amount of $1,000, or in any larger amount, in any increment.
(d) How long is the offering in effect? The offering continues until terminated by the Secretary.