It will help investors seeking to better match assets and liabilities and will benefit the Treasury by modestly reducing our short-term funding volatility, broadening our customer base, lowering operational risk and reducing supply uncertainty.
I don't know if there's anything we've been more responsive on at all levels of the department and across all agencies that are members of the committee.
Without this action we would reach the debt limit today.
We do have ongoing concerns with the Bank's lending function.
The hotel in Mexico City is a U.S. subsidiary, and therefore prohibited from providing a service to Cuba or Cuban nationals.
The hotel acted in accordance with U.S. sanctions.
It's a temporary tool and as soon as Congress raises the limit, all interest will be restored and there will be no adverse consequences for G-fund investors.
It's part of an ongoing look at where our resources are going and how they can best be used.
We are at a point where a lot of tax refunds are going out and we generally don't see a great number of tax payments coming in until later in the filing season.
Our concern is with the functioning of the bank. We think the administrative costs are pretty high.
