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San Leandro Investment Policy Statement Page 13 of 13 <br />Appendix B <br />Glossary of Technical Terms <br />Securities and Exchange Commission (SEC) — A federal agency created by <br />congress to protect investors in securities transactions by administering securities <br />legislation. <br />Treasury Bills (T- Bills) — A non - interest bearing discount security issued by the U.S. <br />Treasury to finance the national debt. Most bills are issued to mature in three months, <br />six months or one year. <br />Treasury Bonds — Long -term coupon- bearing U.S. Treasury securities having initial <br />maturities 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 <br />member brokers and dealers maintain a maximum ratio of indebtedness to liquid capital <br />of fifteen to one. Indebtedness includes all money owed to other entities including loans <br />and commitments to purchase securities. Liquid capital includes cash and other assets <br />easily converted to cash. <br />Yield — The rate of annualized income return on a security, expressed as a percentage <br />of the security's purchase price. <br />