Sentences with phrase «auction grade securities»

LES claimed that the total value of the customers» funds was sufficient to cover the planned closings, but explained that the funds were invested in «auction grade securities» and «due to the recent freeze in the credit market» the funds were not currently liquid.

In fact, the market for auction grade securities had collapsed.

Not exact matches

If the U.S. Treasury Department auctions and issues a Treasury security that meets these standards, such that said security is a re-opening of an extant Treasury issue that had not previously met these standards, then the extant Treasury issue shall be deemed to be a Treasury note meeting these standards and shall be added to the contract grade as of the issue date of said newly auctioned Treasury security.