Ohio Liquidity Program

Issuer Overview

Ohio Liquidity Program

Issuer Type: State / Province

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The Ohio Treasurer manages multiple investments portfolios including: the State Treasury, the STAR Ohio local government investment pool, and the Lottery Deferred Prizes Trust Fund.

The State Treasury, totaling approximately $26.6 billion, is comprised primarily of treasury and agency securities, investment grade corporate notes, commercial paper, money market funds, and bank deposits.  Roughly half of the State Treasury - the Liquidity Portfolio - is invested in cash, cash equivalents, and money market securities with a weighted average maturity of 60 days. The remainder of the State Treasury is invested in securities maturing in 2-5 years, and has an average duration of 2.5 years.

Liquidity Program

Since 2001, the Ohio Treasurer has provided liquidity to $964,055,000 of the State of Ohio's variable rate demand bonds.  As of May 31, 2024, the Treasurer's Office provides liquidity for $529,700,000 in outstanding variable rate demand bonds, all of which reset on a weekly basis.

Ohio Market Access Program

The Ohio Treasurer also serves as a standby purchaser for short terms notes issued by Ohio political subdivisions through the Ohio Market Access Program ("OMAP").  Since its inception in 2014, the Ohio Treasurer through OMAP has served as a standby purchaser for more than 305 short term notes totaling over $1.56 billion in par and generating nearly $5.9 million in savings for local Ohio governments.  For more information about the OMAP Credit Enhancement Program, please visit the OMAP website or see recent deals and other financial documents here.