Treasury authorizes $1.8 billion line of credit to state's General Fund

Treasury authorizes $1.8 billion line of credit to state's General Fund

State Treasurer Joe Torsella announced Friday that he has authorized a $1.8 billion line of credit from the Treasury’s Short Term Investment Pool (STIP) to the state General Fund.

The line of credit is to be paid back on or before April 2, 2018 at a variable interest rate equal to the SiFMA Swap Index Yield, according to a statement by Treasurer Torsella. 

Friday, October 27, 2017/Author: Alanna Koll
Categories: News and Views
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