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RL34672Appropriations

Auction-Rate Securities

Federal & State Law Editorial TeamLast reviewed: September 2008
September 17, 2008

Summary

This report discusses auction-rate securities (ARSs), which most are long-term bonds, although some ARS are structured as preferred shares and so have no maturities.

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Note: CRS reports are prepared for Members of Congress and their staffs. This summary is provided for informational purposes and does not constitute legal advice.

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.