Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Treasury Meets With Wall Street on Risks of Default Treasury Meets With Wall Street on Risks of Default

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Homepage

Treasury Meets With Wall Street on Risks of Default

July 29, 2011

The Treasury Department and New York Federal Reserve met with some of the biggest banks on Wall Street today to discuss the possibility of the U.S. defaulting on its debt. Reuters reports that the meeting was originally slated to involve representatives from around half of the 20 primary dealers but was expanded at the last minute to include all the banks and security firms authorized to deal directly with the Treasury and Fed.

Should Congress not vote to raise the debt ceiling by Tuesday, the Treasury would lose its ability to pay off U.S. debt and runs the risk of defaulting to its creditors. 

Rates on Treasury bonds due to mature in August have reached all time highs—a sign that investors in short-term lending markets are dumping debt they fear may not be repaid.

 

Attendees said the meeting would focus on how much debt the Treasury plans to issue in the next quarter, a number due to be announced next week. But the current stalemate on debt-ceiling negotiations in Congress has thrown into question how much debt the Treasury will be able to sell. 

Job Board
Search Jobs
Digital and Content Manager, E4C
American Society of Civil Engineers | New York, NY
PRODUCT REVIEW ENGINEER
American Society of Civil Engineers | CA
Neighborhood Traffic Safety Services Intern
American Society of Civil Engineers | Bellevue, WA
United Technologies Research Fellow
American Society of Civil Engineers | New York, NY
Process Engineering Co-op
American Society of Civil Engineers | Conshohocken, PA
Electrical Engineer Co-op
American Society of Civil Engineers | Findlay, OH
Application Engineer/Developer INTERN - Complex Fluids
American Society of Civil Engineers | Brisbane, CA
Application Engineer - Internships CAE/CFD Metro Detroit
American Society of Civil Engineers | Livonia, MI
Chief Geoscientist
American Society of Civil Engineers
Application Engineer - Internships CAE/CFD Metro Boston
American Society of Civil Engineers | Burlington, MA
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Civil Enginering Intern - Water/Wastewater/Site-Development
American Society of Civil Engineers | Sacramento, CA
Staff Accountant
American Society of Civil Engineers | Englewood, CO
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
 
Comments
comments powered by Disqus