California�s Time Deposit Program Provides �Competitive Advantage�
The State Treasurer�s Time Deposit Program provides direct deposits to eligible financial institutions, which can be used to make loans contributing to growth in small business loans, home mortgages, auto loans, personal loans and other lending through the state. Read more
Head to Head on Improving Police-Community Relations
In the latest installment of Head to Head, Chief Ken Corney of the California Police Chiefs Association and Donielle Prince, chapter lead of Black Lives Matter Sacramento, give ideas on how to best improve police-community relations in California. Read more
WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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2.0%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 7/22/16) |
2.2%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 7/22/16) |
3.2%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 7/22/15) |
For every $1 billion in bonds issued, CA will pay $16.4 million more in debt service over a 20-year period than a AAA-rated borrower. |
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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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JUNE 2016 |
JUNE 2015 |
Statewide |
$7.401 billion |
$10.65 billion |
State of CA |
$1.186 billion |
$0.53 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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$3.3 BillionIn Public Benefits From Refinancings Conducted by Treasurer Chiang Since January 2015 |
INVESTMENTS | ||
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POOLED MONEY INVESTMENT ACCOUNT (PMIA) |
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AS OF 6/30/16 |
AS OF 6/30/15 |
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Ending Portfolio |
$75 billion |
$70 billion |
Average Effective Yield |
0.58 percent |
0.30 percent |
Average Investment Life |
167 days |
239 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 6/30/16 |
AS OF 6/30/15 |
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Ending Portfolio |
$22.7 billion |
$21.5 billion |
Participating Agencies |
2,464 |
2,488 |
AVERAGE MONTHLY YIELD COMPARISON-JUNE |
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0.576% |
S&P GOV'T INVESTMENT POOLS 0.560% |
FEDERAL FUNDS 0.397% |
Source: State Treasurer�s Office |
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