Louisiana to Hold its First Jumbo CD Auction on April 17

April 1, 2001

Pittsburgh, PA (April 1, 2001) — On Tuesday, April 17, 2001, the State of Louisiana will hold its first Internet auction for jumbo certificates of deposit (CDs) on its private-label website (www.BidLouisiana.com) created by the Grant Street Group. The Louisiana Department of the Treasury will conduct quarterly auctions for the placement of $50 million in State funds with Louisiana banks offering the best rates. Louisiana is the fourth state to utilize this on-line, competitive auction platform for its CD investments, joining the ranks of Ohio, South Carolina and Texas.

Categories: Auctions