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Examination of Treasury Term Investment Interest Rates: A Reprint from “Economic Policy Review”
In Nov. 2003, the Term Investment Option (TIO) pro

Our Price: $15.00
By Warren B. Hrung (au)
Year: 2007
Pages: 14
Binding Paperback

Product Code: 1422315274

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.

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