US Treasury’s cash balance falls to US$57b, borrowing capacity at US$92b

WASHINGTON, May 19 — The US Treasury said yesterday that its cash balance as of Thursday fell to US$57.3 billion (RM260 billion) from US$143.3 billion a week earlier, as negotiations over raising the federal debt ceiling stalled.

The Treasury also said that as of Wednesday it had US$92 billion in borrowing capacity remaining under currently available extraordinary cash management measures to avoid breaching the debt limit.

US Treasury Secretary Janet Yellen has said the Treasury could run short of sufficient cash and borrowing resources to pay all of the US government’s bills as soon as June 1 without action by Congress to increase the debt ceiling. — Reuters