Treasury to Suspend Sales of State and Local Government Series Securities (“SLGS”)

The U.S. Department of the Treasury (the “Treasury”) recently announced the suspension of sales of SLGS nonmarketable Treasury securities, effective 12:00 noon Eastern Time, March 13, 2015, until further notice. The Treasury stated in its announcement that suspension is necessary due to the statutory debt ceiling. The Treasury noted that subscriptions for SLGS received prior to 12:00 noon, on March 13, 2015, will be issued on the date requested and that new subscriptions for SLGS will not be accepted during the suspension.