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The U.S. Treasury Department’s operating cash balance as of Thursday was $22.89 billion, compared with $48.51 billion a day before, the Treasury said on Friday as U.S. President Joe Biden prepared to sign legislation to suspend the federal debt ceiling.
Treasury Secretary Janet Yellen had warned last week that the Treasury would run short of cash and borrowing resources to pay all of the U.S. government’s bills by Monday without action by Congress to increase the debt ceiling. The legislation was approved by the U.S. Senate late on Thursday.
The Treasury on Friday auctioned $15 billion worth of one-day cash management bills that issue on Monday and mature on Tuesday amid the uncertainty surrounding the debt ceiling timing.