Treasury Resumes Sales of State and Local Government Series Securities

FOR IMMEDIATE RELEASE

June 05, 2023

The U.S. Department of the Treasury is resuming the sale of State and Local Government Series (SLGS) nonmarketable Treasury securities, effective June 5, 2023, at 12 Noon ET.

The Treasury Department suspended the sales of SLGS on May 2, 2023, to assist Treasury’s management of the debt subject to limit.

On June 3, 2023, President Biden signed into law the Fiscal Responsibility Act of 2023, which suspends the debt limit through January 1, 2025, 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.

For more information on SLGS, see http://www.treasurydirect.gov/help-center/faqs/slgs-faqs/.