The U.S. Department of the Treasury's Bureau of the Fiscal Service (the "Treasury") announced on February 9, 2018, that the Treasury is resuming the sale of State and Local Government Series (SLGS) nonmarketable Treasury securities, effective February 12, 2018, at 12 p.m. ET.
As discussed in our December 7, 2017, alert, the Treasury suspended the sales of SLGS on December 6, 2017. The suspension was necessary to assist with Treasury's management of the debt subject to limit.
On February 9, 2018, President Trump signed H.R. 1892 (Bipartisan Budget Act of 2018), which suspends the debt limit through March 1, 2019, allowing the Bureau of the Fiscal Service to begin accepting subscriptions for new issues of SLGS securities.
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