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Stephen English
Stephen A. English President of The Trust Company of Kansas (TCK), has worked in the trust business for over 30 years. After graduating from the University of Minnesota-Duluth in 1970, Steve accepted a position as a trust examiner with the Comptroller of the Currency. In 1976, Steve accepted a position as Vice President and Trust Officer for Home National Bank in Arkansas City, Kansas and then went on to work for Southwest National Bank, Wichita. He resigned from SWNB in 1989, and spent several months setting up The Trust Company of Kansas. TCK was officially chartered on May 21, 1990, and has since grown to manage over $260 million in assets. Steve is a 1978 graduate of the Southwestern Graduate School of Banking at Southern Methodist University, Dallas, Texas. He was a charter board member of the Association of Independent Trust Companies. In 1991, Steve became only the fifth person in the state of Kansas to earn the title of Certified Trust and Financial Advisor, a designation issued by the Institute of Certified Bankers. You may contact Steve by phone at (316) 264-6010.
Banking & Finance
2002-02-01 15:35:00
Bonds and bills...how do they work?
Stephen English Question: Could you please explain to me how Government bonds and T-Bills work? Are they not opposite investment products…one dealing with a note from the government and the other dealing with a note owed the government?Answer:  Both T-Bills (United States Treasury Bills) and Government Bonds are obligations of the United States Government.  They represent the debt of the United States, guaranteed by the full faith and credit of the United States of America.  Such borrowing requires congressional approval.  Debt is issued for a variety of reasons.  Direct debt instruments are typically sold at large government "auctions" to determine their relative market price.  Large institutional participants (buyers of the debt) at these auctions include banks, brokerage houses and foreign institutions.  These direct obligations of the United States are considered the safest debt investment available any where in the world.  The quality rating is the highest. The interest rates paid to the owner are modest compared to other types of debt instruments (e.g., corporate bonds) since there is little fear of default.  Individual owners of the direct government debt are currently not required to declare the income for Kansas Income Tax purposes.
 
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