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Treasury Stops Debt Issuance To Two PFs
The U.S. Department of Treasury has stopped investments in two federal pension funds as it reaches its $14.294 trillion debt ceiling.
The U.S.Department of Treasuryhas stopped investments in two federal pension funds as it reaches its $14.294 trillion debt ceiling,The Wall Street Journalreports. The government will suspend debt issuance to theCivil Service Retirement and Disability Fund and theGovernment Securities Fundof theFederal Employees Retirement Systemfrom May 23, 2011.
The suspension period for the two funds will continue until Aug. 2, 20011. The move will free up about $147 billion in headroom under the debt ceiling. The funds will be made whole once the debt limit is increased and federal retirees will be unaffected.
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