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URGENT-U.S. Treasury moves to preserve borrowing capacity
February 10, 2014 / 8:15 PM / 4 years ago

URGENT-U.S. Treasury moves to preserve borrowing capacity

WASHINGTON, Feb 10 (Reuters) - The U.S. Treasury Department on Monday suspended investments in two government pension funds to preserve borrowing capacity given the reimposition of the nation’s debt ceiling over the weekend.

In a letter to congressional leaders, Treasury Secretary Jack Lew said the department would suspend investments in the Civil Service Retirement and Disability Fund and the Government Securities Investment Fund beginning on Monday. It would also redeem a portion of the CSRDF, he said.

Taken together, the actions would free up more than $175 billion in borrowing capacity, according to the Treasury.

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