Online CD auctions surpass $1 billion in deposits - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Online CD auctions surpass $1 billion in deposits

Posted: Updated:
  • Local NewsMore>>

  • North Central WV Weekend Outlook for April 18-20

    North Central WV Weekend Outlook for April 18-20

    Friday, April 18 2014 2:12 PM EDT2014-04-18 18:12:52 GMT
    With it being a holiday weekend, there's not much in the way of fairs or festivals scheduled, but there's still plenty to do around north central West Virginia. Saturday: Stonewall Resort, in Lewis County,
    With it being a holiday weekend, there's not much in the way of fairs or festivals scheduled, but there's still plenty to do around north central West Virginia. Saturday: Stonewall Resort, in Lewis County,
  • AAA Predicts Mild Easter Weekend Traffic

    AAA Predicts Mild Easter Weekend Traffic

    Friday, April 18 2014 1:47 PM EDT2014-04-18 17:47:34 GMT
    If you are getting ready to travel this Easter weekend, the good news is the traffic is not expected to be bad.
    If you are getting ready to travel this Easter weekend, the good news is the traffic is not expected to be bad. AAA predicts that traffic will not be much different than last year and that this weekend
  • Main Street Fairmont Offers Sign and Facade Improvement Grants

    Main Street Fairmont Offers Sign and Facade Improvement Grants

    Friday, April 18 2014 8:16 AM EDT2014-04-18 12:16:22 GMT
    Main Street Fairmont is looking to give away grants through the Sign and Facade Improvement Grant Program, which provides funding for beautification efforts in downtown Fairmont. The program is facilitated
    Main Street Fairmont is looking to give away grants through the Sign and Facade Improvement Grant Program, which provides funding for beautification efforts in downtown Fairmont. The program is facilitated

CHARLESTON (AP) — The West Virginia Board of Treasury Investments says it has deposited more than $1 billion with banks across the state since the start of its online certificates of deposit auction program in 2006.

The BTI says three more banks successfully bid on funds Wednesday. It says the program has resulted in $1.4 million in greater interest return than if the funds were not put up for bid.

State Treasurer John Perdue, who also serves as chairman of BTI, says that passing the $1 billion milestone is a source of pride. He says the program is providing lending capital to small and large banks in hopes of stimulating economic growth.

The West Virginia Legislature created the BTI in 2005 to oversee and manage the state's Consolidated Fund.

 

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.