Treasury says further bill auctions depend on raising debt limit
2023.06.01 11:45
© Reuters. FILE PHOTO: A view shows a stop sign at a security gate to the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/
(Reuters) – The U.S. Treasury Department on Thursday announced $15 billion in one-day cash management bills on June 2 and said it tentatively plans to sell 13-week and 26-week bills on June 5, but added that the latter sales depend on whether Congress will pass legislation to raise the debt ceiling by then.
The Treasury said it will sell $15 billion in one-day CMBs on June 2, which will settle on June 5. It also tentatively plans to sell $65 billion in 13-week bills and $58 billion in 26-week bills on June 5, to settle on June 8.
The 13-week and 26-week announcements “are conditional on enactment of the debt limit suspension because Treasury forecasts insufficient headroom under the current debt limit to issue securities in these amounts on June 8,” The Treasury said.
It added that it may postpone these auctions if Congress has not passed legislation to raise the debt limit by the time of the planned sale on June 5.
