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Examination of Treasury Term Investment Interest Rates: A Reprint from “Economic Policy Review”
Warren B. Hrung (au)
In Nov. 2003, the Term Investment Option (TIO) program became an official cash management tool of the U.S. Treasury Dept. Through TIO, the Treasury lends funds to banks for a set number of days at an interest rate determined by a single-rate auction. The Treasury introduced TIO to try to earn a market rate of return on its excess cash balances. This article studies 166 TIO auctions from 11/03 to 2/06 to determine how TIO interest rates have compared with market rates. Investigates the spread between TIO rates & rates on mortgage-backed-security repossessions. Aside from offerings with very short term lengths, the Treasury receives an interest rate on TIO auctions comparable to market rates. Charts & tables.
Embracing Defeat: Japan in the Wake of World War II
Sale Price: $15.00
Supporting the Sky
Competing for Employees: Proven Marketing Strategies for Hiring & Keeping Exceptional People
Kensington Way: A Revolutionary Lifestyle Guide for Weight Control, Vitality, & Perfect Health
Who’s in Control? Polar Politics & the Sensible Center
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