|
|
Article: Treasury department unveils major Slugs program changes.(state and local government securities)
- Article from:
- The Bond Buyer
- Article date:
- April 29, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The Treasury Department unveiled a plan Friday to make major changes in its state and local government series securities program designed to make it more attractive to state and local bond issuers and deter them from engaging in controversial yield-burning practices.
The 10 proposed changes, which are designed to overcome complaints that the current program is "unworkable," were immediately hailed by representatives of issuers and bond lawyers who have long urged that the program be improved.
The possible changes include:
*Eliminate the "all or nothing" certification which requires all yield restricted investments be invested either all in Slugs or all ...