T-Bill Auction May Be Delayed - Los Angeles Times

WASHINGTON — The scheduled auction of $14.25 billion in 52-week Treasury bills on April 1 may be postponed unless Congress acts promptly to raise the national debt limit, the Treasury

Department said. A Clinton Administration request to raise the limit from $4.145 trillion now to $4.37 trillion is pending before the House and Senate. Treasury Secretary Lloyd Bentsen last

week said the current ceiling will be reached by April 7. He asked for enactment of the new ceiling by April 2 to “avoid unnecessary uncertainty in financial markets and dislocations in the

Treasury’s usual pattern of auction announcements.” MORE TO READ