News Releases - October 2017


Treasurer Torsella Authorizes $1.8 Billion Line of Credit to General Fund

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today released a statement following the authorization of a $1.8 billion line of credit from Treasury’s Short Term Investment Pool (STIP) to the Commonwealth’s General Fund to be paid back on or before April 2, 2018 at a variable interest rate equal to the SiFMA Swap Index Yield.


Treasurer Torsella Holds Retirement Security Hearing in Allentown

Allentown, PA – Pennsylvania Treasurer Joe Torsella today convened an informational hearing in Allentown of the Treasury’s newly-created Task Force on Private Sector Retirement Security; the first of three regional hearings to be held across the state to publicly explore the retirement crisis facing the more than two million working Pennsylvanians who lack access to employer-sponsored retirement plans.


Treasurer Torsella Authorizes $700 Million Line of Credit to General Fund

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella issued a statement today announcing the authorization of a short-term, five-day $700 million line of credit from Treasury’s Short Term Investment Pool (STIP) to the Commonwealth’s General Fund to be paid back on or before October 20. Without this line of credit, the Commonwealth would not have been able to make scheduled payments to Medicaid providers.