United States Treasury Certificates of Indebtedness, Treasury Notes, and Treasury BondsState and Local Government Series

The Department of the Treasury hereby publishes a final rule governing United States Treasury Certificates of Indebtedness, Notes, and Bonds of the State and Local Government Series (SLGS). These securities are available for purchase, as provided in this offering, by State and local governments and certain other entities with proceeds (or amounts treated as proceeds) which are subject to yield restrictions or arbitrage rebate requirements under the Internal Revenue Code. The securities are characterized in the regulations as time deposit, demand deposit, and special zero interest. This final rule sets out the regulatory requirements which stem from the Department of the Treasury's new processing environment for United States Treasury Certificates of Indebtedness, Notes, and Bonds of the State and Local Government Series. The Bureau of the Public Debt is implementing operational and regulatory changes expected to benefit investors by providing streamlined procedures, a centralized processing facility, and improved customer services.