Approved Debt Securities Issuers

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The Treasurer's Office actively maintains a list of approved debt securities issuers that are authorized and suitable for investments.  These entities are reviewed on a regular basis for continuing creditworthiness and eligibility pursuant to requirements under state statutes and agency policies.  The list includes a variety of securities issuers, dealers and funds, including:


In line with the Treasurer's commitment to community development and accountability, it is important to note that all securities issuers listed below that have a Community Reinvestment Act (CRA) rating (i.e. banks and financial institutions) maintain a rating of "outstanding" or "satisfactory" (as of December 31, 2016).


Commercial Paper Issuers


AllianceBernstein LP

Alphabet Inc

Apple Inc

Archer Daniels Midland

Automatic Data Processing

Bank of Montreal Chicago

Bank of New York Mellon

Barclays US Funding LLC*

Bristol-Myers Squibb Co

Chevron Corp

Citigroup Inc

Coca-Cola Co

Colgate-Palmolive Co

Danaher Corp

Deere & Company

John Deere Capital Corp

John Deere Financial Inc

John Deere Financial Ltd

Eli Lilly & Co

Exxon Mobil Corp

General Electric Company

General Electric Capital Corporation

General Electric Treasury Services (U.S.) LLC

GlaxoSmithKline LLC

Hershey Company

Home Depot Inc

Honeywell International Inc


IBM Corp

Intel Corp

Illinois Tool Works Inc

ING (US) Funding LLC

Johnson & Johnson

JPMorgan Securities LLC

MetLife Funding Inc

Microsoft Corporation

Minnesota Mining & Manufacturing

MUFG Union Bank

Nestle Capital Corp

PACCAR Financials Corp

PepsiCo Inc

Pfizer Inc


Praxair Inc

Proctor & Gamble Co

Prudential Funding LLC

Roche Holdings Inc


Siemens Capital Co LLC

Toronto Dominion Holdings USA

UBS Americas Inc

UBS Finance Delaware LLC

United Parcel Service Inc

UnitedHealth Group Inc

Walt Disney Company


Corporate Bond Issuers

Apple Inc

Alphabet Inc

Automatic Data Processing

Chevron Corp

Coca-Cola Co

Colgate-Palmolive Co

Exxon Mobil Corp

General Electric Company

Johnson & Johnson

Microsoft Corporation

Minnesota Mining & Manufacturing

Procter & Gamble Co

US Bancorp

US Bank NA


Repo Dealers

Bank of Montreal

BMO Capital Markets Corp

Bank of Nova Scotia

Barclays Capital Inc

Citigroup Global Markets Inc

HSBC Securities USA Inc

JPMorgan Securities LLC

Merrill Lynch, Pierce, Fenner & Smith

Mizuho Securities USA Inc*

Morgan Stanley

Northern Trust Corp

SunTrust Bank

UBS Americas Inc


Treasuries and Agencies

Federal Agricultural Mortgage Corp

Federal Farm Credit Bank

Federal Home Loan Bank

Federal Home Loan Mortgage Corp

Federal National Mortgage Association

U.S. Small Business Administration

U.S. Treasury


Supranational Issuers

International Bank for Reconstruction and Development

International Finance Corporation

Inter-American Development Bank


Money Market Funds

Invesco Government & Agency Portfolio

Morgan Stanley Institutional Liquidity Funds

Northern Trust / Williams Capital

Western Asset Institutional Government Reserves


Taxable Municipal Securities

City of Rock Falls

Cook County High School District #207

Village of Addison

Village of Orland Park

Village of Skokie



Taxable Municipal Securities


Qualifying Criteria:

  • Taxable interest-bearing bonds issued by counties or municipal corporations of Illinois
  • Bonds must be at a price not to exceed par
  • Bonds shall be registered in Illinois or held under a custodial agreement at a financial institution
  • Bonds shall be rated, at the time of purchase, at/above AA- by S&P or at/above Aa3 for Moody's
  • No individual bond purchase can represent more than 25% of the issuer's total issuances
  • No individual bond purchase shall exceed $1 million
  • The maturity date(s) of the bonds, at the time of purchase, shall not exceed 5 years

*Approved debt issuer but only eligible for State Portfolio purchases


Disclaimer: The Office of the Illinois State Treasurer does not endorse or recommend any companies, products, or services. Therefore, this list does not constitute or imply an endorsement or recommendation. This list is being provided solely for informational purposes. This list is subject to change without notice, and the companies on it are not guaranteed to remain as approved counterparties. Being an approved debt securities issuer does not imply or promise that a company will receive work from the Office of the Illinois State Treasurer.