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San Leandro Investment Policy Statement Page 12 of 12 <br />Appendix B. <br />Glossary of Technical Terms <br />Securities and Exchange Commission (SEC) - A federal agency created by congress to protect <br />investors in securities transactions by administering securities legislation. <br />Treasury Bills (T-Bills) - Anon-interest bearing discount security issued by the U.S. Treasury <br />to finance the national debt. Most bills are issued to mature in three months, six months or one <br />year. <br />Treasury Bonds -Long-term coupon-bearing U.S. Treasury securities having initial maturities <br />of more than ten years. <br />Treasury Notes -Medium-term coupon-bearing U.S. Treasury securities having initial <br />maturities of two to ten years. <br />Uniform Net Capital Rule -Securities and Exchange Commission requirement that member <br />brokers and dealers maintain a maximum ratio of indebtedness to liquid capital of fifteen to one. <br />Indebtedness includes all money owed to other entities including loans and commitments to <br />purchase securities. Liquid capital includes cash and other assets easily converted to cash. <br />Yield -The rate of annualized income return on a security, expressed as a percentage of the <br />security's purchase price. <br />