U.S. Government

  • 2015-03-18 09:56


    --House Budget Committee To Mark-Up Rep Price's Plan
    --Senate Budget Committee To Consider Sen. Enzi's Budget

    WASHINGTON (MNI) - The House Budget Committee and Senate Budget Committee Wednesday are marking up separate Republican-drafted fiscal year 2016 budget resolutions.

    The House Budget Committee meets at 10:30 a.m. to consider the plan drafted by the chairman of the panel, Rep.

  • 2015-03-18 07:00


    By Brai Odion-Esene

    WASHINGTON (MNI) - A desire for more liquid bond instruments, and a reduced tolerance for risk, has led to a concentration within bond markets that could make liquidity more fragile in the near term, economists at the Bank for International Settlements warned in a report Wednesday.

    Ingo Fender and Ulf Lewrick, both in the BIS' Monetary and Economic Department, also called on market participants and authorities to dispel what they called a "liquidity illusion" regarding the ease with which investors will be able to exit from their positions during times of stress.

  • 2015-03-18 07:00


    --Further US Dollar Appreciation, W/Fed Hike, Would Tighten Intl Fin Conditions

    WASHINGTON (MNI) - The confluence of many central banks around the world easing their monetary policy for domestic or currency reasons, if those actions continue, is likely to have "significant" repercussions for the financial system and broader global economy, according to a senior official with the Bank for International Settlements.

    In remarks during a conference call ahead of the release of its latest Quarterly Review, Claudio Borio, head of the Monetary & Economic Department, also warned that a further rise in the value of the U.S. dollar - coupled with rate hikes by the Federal Reserve - would tighten international financing conditions.

  • 2015-03-17 21:58


    WASHINGTON (MNI) - The following is the text of Frequently Asked Questions on the U.S. Treasury's suspension of investments in a fund for government retirees:

    1. What is the Government Securities Investment Fund? The G Fund is a money market defined-contribution retirement fund for Federal employees.

    2. How does the debt ceiling affect the G Fund?

    The G Fund is invested in special-issue Treasury securities, which count against the debt limit. The entire balance matures daily and is ordinarily reinvested. In 1987, Congress granted Treasury the statutory authority to suspend reinvestment of all or part of the balance of the G Fund when the Secretary determines that the Fund cannot be fully invested without exceeding the debt limit.

    3.

  • 2015-03-17 21:44


    WASHINGTON (MNI) - The following is the text of a letter from U.S. Treasury Secretary Jack Lew to House Speaker John Boehner ending investments in a fund for government retirees in order to avoid breaching the debt limit:

    March 17, 2015 The Honorable John A. Boehner Speaker U.S. House of Representatives Washington, DC 20515

    Dear Mr. Speaker:

    I am writing to notify you, as required under 5 U.S.C. 8348(h)(2), of my determination that, by reason of the statutory debt limit, I will be unable to invest fully the Government Securities Investment Fund (G Fund) of the Federal Employees' Retirement System in interest-bearing securities of the United States, beginning today, March 17, 2015.

  • 2015-03-17 15:41


    WASHINGTON (MNI) - The following is the text of a letter Tuesday by a group of U.S. lawmakers on the Senate Banking Committee to Federal Housing Finance Agency Director Mel Watt, pushing to grant the private sector access to the Common Securitization Platform being developed for Fannie Mae and Freddie Mac:

    March 17, 2015 The Honorable Mel Watt Director Federal Housing Finance Agency 400 7th Street SW Washington, DC 20024

    Dear Director Watt:

    We are writing to you regarding the development of the Common Securitization Platform ("CSP").

  • 2015-03-17 14:11


    By Denny Gulino

    WASHINGTON (MNI) - Treasury Secretary Jack Lew Tuesday verbally wrestled with House Republicans over topics far removed from the central subject of his testimony before the Financial Services Committee, including Hillary Clinton's e-mails, but on the central question of U.S.

  • 2015-03-17 11:35


    --House Budget Chair Price Expects House To OK GOP Plan
    --Rep. Price: 'We Have To Address the Debt'
    --Rep.

  • 2015-03-17 10:30


    --House Speaker Boehner: Endless Deficits Are 'Unacceptable'
    --Rep.

  • 2015-03-17 09:58


    --House GOP Budget Claims Deep $5.5T Deficit Cuts
    --House GOP Budget: Sees Deficits of $152B In FY17

    WASHINGTON (MNI) - House Budget Committee Chairman Tom Price Tuesday unveiled his fiscal year 2016 budget budget resolution which calls for $5.5 trillion in 10-year deficit reduction and leads to a balanced federal budget in FY 2024.

    Price will formally unveil his plan at a briefing in about an hour.

    The House GOP budget seeks to repeal the Affordable Care Act, privatize Fannie Mae and Freddie Mac and enact a sweeping overhaul of entitlement programs such as Medicare and Medicaid.

    Price's budget adheres to the FY 2016 discretionary spending cap which allows for $523 billion for defense programs and $493 billion for non-defense programs.

    The House