Government Agency Investment Services
Meeting Your Needs, Protecting Your Interests
The Government Agency Investment Services program includes the offering of specialized investments for government entities at the federal, state, and local levels, as well as borrowings by federal agencies.
Because these investments and borrowings are based on a broad array of statutes and serve a diverse customer base, our challenge is to ensure that we meet both statutory requirements and customer needs, while providing the most efficient operations possible.
This program has three distinct components:
Federal Investments: This component includes issuing, servicing, and redeeming Government Account Series (GAS) securities for federal agencies that have specific statutory authority to invest in these special, non-marketable Treasury securities.
As of February 28, 2014, 241 federal funds invested in Government Account Series securities totaling approximately $5.1 trillion, or approximately 29% of the public debt.
The Secretary of the Treasury has been designated by statute as the managing trustee for 22 significant trust funds, including the Social Security and Unemployment trust funds. For these funds, we perform additional services, such as accounting and reporting on all trust fund receipts and disbursements.
Special Purpose Securities: In this component, we administer a variety of special purpose securities, including some issued by other federal agencies, for which we serve as fiscal agent.
Treasury’s State and Local Government Series (SLGS) securities represent the largest portion of principal outstanding in this component. SLGS securities offer a flexible investment alternative for state and local governments to refinance their outstanding, tax-exempt debt.
We issue, service, and redeem these securities. There are about 3,800 government entities that hold investments in SLGS securities.¬† As of February 28, 2014, the value of these investments amounted to approximately $107 billion.
Federal Borrowings: This is a unique element of the Government Agency Investment Services program in that its purpose is to administer loans to federal agencies on behalf of the Treasury. ¬†The proceeds from these loans are used to support programs relating to education, housing, flood relief, agriculture, and many other areas through the use of direct loans and loan guarantees.
There are approximately 100 accounts that borrow from Treasury under this program.¬† The total outstanding borrowings, on average, exceeds $1 trillion.
Responsibilities related to this component include ensuring all principal and interest amounts are accounted for appropriately, reported timely, and presented accurately.
In support of our strategic goal to effectively finance government operations, our strategies for the Government Agency Investment Services program are to:
- Strengthen and streamline controls for Government Agency Investment Services.
- Position government agency customers to more effectively manage their investments.
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