New Programs to Improve Lives in California�s Disability Community
State Treasurer John Chiang is introducing two new programs that will provide benefits to Californians living with disabilities Read more
Head to Head on Repealing the Death Penalty in California
In the latest installment of Head to Head, Stanford law professor John J. Donohue III and Sacramento County District Attorney Anne Marie Schubert go head to head on the issue of repealing the death penalty in California. Read more
WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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2.0%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 8/22/16) |
2.2%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 8/22/16) |
3.1%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 8/21/15) |
For every $1 billion in bonds issued, CA will pay $13.7 million more in debt service over a 20-year period than a AAA-rated borrower. |
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All indicators reflect yields-to-call on bonds with 5% coupons and 10-year call options. Source: Municipal Market Data, licensed and used with permission. |
CALIFORNIA'S CURRENT GENERAL OBLIGATION CREDIT RATINGS | ||
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FITCH AA- |
MOODY'S Aa3 |
S&P AA- |
DEBT ISSUANCE | ||
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JULY 2016 |
JULY 2015 |
Statewide |
$2.747 billion |
$5.628 billion |
State of CA |
$0.301 billion |
$1.585 billion |
Source: CA Debt and Investment Advisory Commission |
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Read More About Debt Issued So Far This Year |
TREASURER'S OFFICE HIGHLIGHTS |
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$4.2 BillionIn Savings From Bond Refinancings Conducted by Treasurer Chiang Since January 2015 |
INVESTMENTS | ||
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POOLED MONEY INVESTMENT ACCOUNT (PMIA) |
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AS OF 7/31/16 |
AS OF 7/31/15 |
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Ending Portfolio |
$70 billion |
$65 billion |
Average Effective Yield |
0.59 percent |
0.32 percent |
Average Investment Life |
169 days |
240 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 731/16 |
AS OF 7/31/15 |
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Ending Portfolio |
$21.7 billion |
$20.3 billion |
Participating Agencies |
2,460 |
2,477 |
AVERAGE MONTHLY YIELD COMPARISON-JULY |
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0.588% |
S&P GOV'T INVESTMENT POOLS 0.590% |
FEDERAL FUNDS 0.401% |
Source: State Treasurer�s Office |
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