
Where�s the Money? Financing the Green Economy
Just over a month ago, nearly every country on the planet met in Paris and committed to a landmark agreement to combat climate pollution and stave off destructive climate change.
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WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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2.5%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 1/22/16) |
2.7%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 1/22/16) |
2.8%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 1/22/15) |
For every $1 billion in bonds issued, CA will pay $16.4 million more in debt service over a 20-year period. |
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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 A+ |
MOODY'S Aa3 |
S&P AA- |
DEBT ISSUANCE | ||
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DECEMBER 2015 |
DECEMBER 2014 |
Statewide |
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State of CA |
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$0 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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$2.5 BillionIn Taxpayer Benefits From Refinancings Orchestrated by Treasurer Chiang in 2015 |
INVESTMENTS | ||
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POOLED MONEY INVESTMENT ACCOUNT (PMIA) |
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AS OF 12/31/15 |
AS OF 12/31/14 |
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Ending Portfolio |
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Average Effective Yield |
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Average Investment Life |
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LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 12/31/15 |
AS OF 12/31/14 |
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Ending Portfolio |
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Participating Agencies |
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AVERAGE MONTHLY YIELD COMPARISON-NOVEMBER |
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0.400% |
S&P GOV'T INVESTMENT POOLS 0.320% |
FEDERAL FUNDS 0.192% |
Source: State Treasurer�s Office |
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