WASHINGTON/NEW YORK Feb 10 Republican aides in
the U.S. House of Representatives told Reuters that Republican
leaders will convene later on Monday on how to deal with the
looming deadline on raising the federal borrowing limit so the
government would not have to delay its debt payments.
The U.S. Treasury Department has repeatedly warned Congress
will run out of cash to pay its debt obligation, federal
payrolls and retirement benefits by the end of February.
The Republican meeting raised hopes a longer-term deal to
increase on the debt ceiling, currently at $16.7 trillion, might
be made before the deadline.
The interest rate on one-month T-bills retreated on news of
the meeting, as holders of the bills had become anxious about
the debt ceiling in recent days. The one-month bill rate was
last at 0.070 percent, down nearly 3 basis points from late on
Friday. It rose to slightly above 0.100 percent earlier.