Treasurer�s Office Looks Toward More Funding, Innovation, Transparency and Accountability for 2016
Making cars and airplanes has been part of California�s manufacturing DNA since the 1920s. Dozens of plants located across the Golden State created steady, solid, middle-class jobs for tens of thousands of skilled workers. Unfortunately, the bonanza, while prolonged, petered out. Read more
WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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2.6%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 12/22/15) |
2.8%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 12/22/15) |
3.0%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 12/22/14) |
For every $1 billion in bonds issued, CA will pay $12.7 million more in debt service over a 20-year period. |
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All indicators reflect yields-to-call on bonds with 5% coupons and 10-year call options. Source: Municipal Market Data, licensed and used with permission. |
CALIFORNIA'S CURRENT GENERAL OBLIGATION CREDIT RATINGS | ||
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FITCH A+ |
MOODY'S Aa3 |
S&P AA- |
DEBT ISSUANCE | ||
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NOVEMBER 2015 |
NOVEMBER 2014 |
Statewide |
$3,789 million |
$4,195 million |
State of CA |
$1,259 million |
$1,465 million |
Source: CA Debt and Investment Advisory Commission |
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Read More About Debt Issued So Far This Year |
TREASURER'S OFFICE HIGHLIGHTS |
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$2.5 BillionIn Taxpayer Benefits From Refinancings Orchestrated by Treasurer Chiang in 2015 |
INVESTMENTS | ||
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POOLED MONEY INVESTMENT ACCOUNT (PMIA) |
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AS OF 11/30/15 |
AS OF 11/30/14 |
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Ending Portfolio |
$65 billion |
$60 billion |
Average Effective Yield |
0.37 percent |
0.26 percent |
Average Investment Life |
183 days |
191 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 11/30/15 |
AS OF 11/30/14 |
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Ending Portfolio |
$19.4 billion |
$18.8 billion |
Participating Agencies |
2,474 |
2,520 |
AVERAGE MONTHLY YIELD COMPARISON-NOVEMBER |
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0.374% |
S&P GOV'T INVESTMENT POOLS 0.270% |
FEDERAL FUNDS 0.125% |
Source: State Treasurer�s Office |
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