Treasury to Expand Government Checking Account

May 6, 2015 7:43 PM

59 0

The federal government, concerned about possible financial market disruptions from events such as cyberattacks, has decided to more than double the amount of money it keeps in its checking account.

The Treasury Department announced Wednesday that it will aim to run an operating balance of between $200 billion to $225 billion, which would be enough to pay the government's bills for about a week.

Also read: Irish taxman sees disputed Apple bill remaining around $16 billion

Read more

To category page