VRDBs with Self-Liquidity, August 1, 2017
$430,655,000
Liquidity Fund Rating
AAAf
State Treasury, July 31, 2017
$10.14 Billion

About Ohio Liquidity Program

The Ohio Treasurer's Office manages multiple investments portfolios including: the State Treasury, the STAR Ohio local government investment pool,  and the Lottery Deferred Prizes Trust Fund. At the end of FY 2016, the combined investment portfolio managed by the Treasurer's Office totaled more than $17.2 billion.

The State Treasury, totaling approximately $10 billion, is comprised primarily of treasury and agency securities, investment grade corporate notes, commercial paper, money market funds, and bank deposits.  The maximum maturity in the State Treasury is five years.  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.

Self- Liquidity Program

Since 2001, the Treasurer's Office has provided self-liquidity to $816,645,000 of the State of Ohio's variable rate demand bonds.  As of June 2017, the Treasurer's Office provides liquidity for $457,030,000 in outstanding variable rate demand bonds, all of which reset on a weekly basis.

Ohio Market Access Program

The Treasurer's Office 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 Treasurer's Office through OMAP has served as a standby purchaser for nearly 50 short term notes totaling more than $300 million and generating well over $1 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.