31 CFR § 344.0 - What does this part cover?

---
identifier: "/us/cfr/t31/s344.0"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 344.0 - What does this part cover?"
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "344.0"
section_name: "What does this part cover?"
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "344"
part_name: "U.S. TREASURY SECURITIES—STATE AND LOCAL GOVERNMENT SERIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "26 U.S.C. 141 note; 31 U.S.C. 3102, 3103, 3104, and 3121."
regulatory_source: "65 FR 55405, Sept. 13, 2000, unless otherwise noted."
cfr_part: "344"
---


# 344.0 What does this part cover?

(a) *What is the purpose of the SLGS securities offering?* The Secretary of the Treasury (the Secretary) offers for sale non-marketable State and Local Government Series (SLGS) securities to provide issuers of tax-advantaged bonds with investments from any eligible source of funds (as defined in § 344.1) to assist issuers in complying with applicable provisions of the Internal Revenue Code.

(b) *What types of SLGS securities are governed by this part?* This part governs the following SLGS securities:

(1) *Time Deposit securities*—may be issued as:

(i) Certificates of indebtedness;

(ii) Notes; or

(iii) Bonds.

(2) *Demand Deposit securities*—may be issued as certificates of indebtedness.

(c) *In what denominations are SLGS securities issued?* SLGS securities are issued in the following denominations:

(1) *Time Deposit securities*—a minimum amount of $1,000, or in any larger whole dollar amount; and

(2) *Demand Deposit securities*—a minimum amount of $1,000, or in any larger amount, in any increment.

(d) *How long is the offering in effect?* The offering continues until terminated by the Secretary.

[70 FR 37911, June 30, 2005, as amended at 89 FR 15447, Mar. 4, 2024]