January 31, 2018 / 1:32 PM / 10 months ago

U.S. Treasury plans bigger debt auctions, warns on debt limit

WASHINGTON, Jan 31 (Reuters) - The U.S. Treasury on Wednesday said it plans to hold larger debt auctions due to the winding down of the Federal Reserve’s bond buying program, but it warned that it would only be able to pay all of the federal government’s bills through February.

“Based upon available information, Treasury expects to be able to fund the government through the end of February,” Clay Berry, the department’s deputy assistant secretary for financial markets, said in a statement. “Treasury urges Congress to act promptly on this important matter.

Treasury will exhaust all of its borrowing options and run dry of cash to pay its bills in March, the nonpartisan Congressional Budget Office said in December. (Reporting by Jason Lange; Editing by Paul Simao)

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