California Secure Choice Would Provide Retirement Security to Millions
The ability to retire with modest comfort and contentment has become an elusive dream for millions of Californians. Many head into their supposed �golden years� with diminished incomes and little or no savings to pay for food, shelter, medical bills and other basics. Read more
WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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2.5%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 2/22/16) |
2.7%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 2/22/16) |
3.0%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 2/23/15) |
For every $1 billion in bonds issued, CA will pay $18.7 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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JANUARY 2016 |
JANUARY 2015 |
Statewide |
$2.659 billion |
$3.157 billion |
State of CA |
$0.720 billion |
$0.012 billion |
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 Conducted by Treasurer Chiang in 2015 |
INVESTMENTS | ||
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POOLED MONEY INVESTMENT ACCOUNT (PMIA) |
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AS OF 1/31/16 |
AS OF 1/31/15 |
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Ending Portfolio |
$65 billion |
$61 billion |
Average Effective Yield |
0.45 percent |
0.26 percent |
Average Investment Life |
167 days |
198 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 1/31/16 |
AS OF 1/31/15 |
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Ending Portfolio |
$21.3 billion |
$20.9 billion |
Participating Agencies |
2,470 |
2,507 |
AVERAGE MONTHLY YIELD COMPARISON-JANUARY |
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0.446% |
S&P GOV'T INVESTMENT POOLS 0.400% |
FEDERAL FUNDS 0.339% |
Source: State Treasurer�s Office |
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