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REPEAT: US Tsy to Suspend Sales of SLGS At 12:00 Noon ET Dec 8

Repeats Story Initially Transmitted at 18:57 GMT Dec 6/13:57 EST Dec 6
     WASHINGTON (MNI) - The following is the text of a statement from the US
Treasury issue Wednesday suspending sales of State and Local Government
Securities effective Friday ahead of the possible debt limit extension
expiration that day:
     The U.S. Department of the Treasury's Bureau of the Fiscal Service (Fiscal
Service) announced today the suspension of sales of State and Local Government
Series (SLGS) nonmarketable Treasury securities, effective 12:00 noon Eastern
Standard Time (EST), December 8, 2017, until further notice. This suspension is
necessary due to the statutory debt ceiling and will assist Treasury's
management of the debt subject to the limit.
     The suspension applies to demand deposit and time deposit securities.
Subscriptions for SLGS received by the Fiscal Service prior to 12:00 noon, on
December 8, 2017, will be issued on the date requested. New subscriptions for
SLGS will not be accepted during the suspension.
     The TreasuryDirect.gov website has more information about the effect of the
debt ceiling on SLGS, including how it impacts holders of outstanding demand
deposit securities, available at
http://www.treasurydirect.gov/govt/resources/faq/faq_slgs.htm#Effect.
     The Internal Revenue Service (IRS) provides guidance for affected
government entities in Revenue Procedure 95-47, 1995-47 I.R.B. 12, available at
http://www.irs.gov/Tax-Exempt-Bonds/Revenue-Procedures.
     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.
--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

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