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UPDATE 1-U.S. Treasury says debt calendar not impacted by political impasse
October 18, 2013 / 5:00 PM / 4 years ago

UPDATE 1-U.S. Treasury says debt calendar not impacted by political impasse

WASHINGTON, Oct 18 (Reuters) - The impasse over America’s debt ceiling and a temporary shutdown of the federal government have not affected the U.S. Treasury Department’s planned calendar for debt issuance, a Treasury official said on Friday.

The official spoke to reporters in a briefing regarding upcoming meetings between Treasury officials and dealers of U.S. government securities ahead of the Treasury’s Nov. 6 quarterly refunding announcement.

The meetings will include discussion of the Treasury’s plans to begin issuing two-year floating rate notes in January, according to an agenda of the meetings released on Friday by the Treasury.

The floating rate notes will be the first new type of security issued by the Treasury since inflation-indexed securities, known as TIPS, were introduced in 1997.

Treasury officials will also ask dealers to tell them how much a recent impasse in Congress over the nation’s debt ceiling may have impacted Treasury bill and other financial markets, the agenda said.

The debate in Congress, which could have led to a damaging default, was resolved in a congressional deal on Wednesday to suspend the nation’s $16.7 trillion debt ceiling.

In the upcoming meetings with Treasuries dealers, officials will also ask whether smaller, more frequent 5-year TIPS auctions would be beneficial to the market, according to the agenda.

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