Yellen to extend extraordinary debt management measures until December 3

U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing on Capitol Hill in Washington, DC, United States, June 23, 2021. Greg Nash / Pool via REUTERS / File Photo

WASHINGTON, Oct. 18 (Reuters) – US Treasury Secretary Janet Yellen told congressional leaders on Monday that she would extend extraordinary cash management measures to stay below the federal debt limit until Dec. 3 after that a slight increase in the borrowing limit was adopted last week.

Yellen said the extended “debt issuance suspension period” would mean the Treasury would continue to suspend investments in the Civil Service Pension and Disability Fund and the Service Retiree Health Benefit Fund. postal. It will also extend the suspension of the sale of State and Local Government Series (SLGS) securities.

“It is imperative that Congress act to raise or suspend the debt limit in a way that provides long-term certainty that the government will meet all of its obligations,” Yellen wrote in a letter to House Speaker Nancy Pelosi and other congressional leaders.

Reporting by David Lawder Editing by Chris Reese

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