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Final Report and Recommendations: Public Pension Management and Asset Investment Review Commission

Treasurer Torsella Authorizes $650 Million Short-Term Loan

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced the authorization of an $800 million line of credit from Treasury’s Short Term Investment Pool (STIP) to the General Fund, expiring within 23 days, to ensure adequate liquidity in the General Fund and the ability of the Commonwealth to meet its expenditure needs. The Treasurer and Auditor General both signed off on the line of credit. An initial draw of $650 million on the line of credit was made on Thursday.

Treasurer Torsella Files Court Documents in Alleged Bond Manipulation Scheme

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced that his office has initiated a class action in the United States District Court for the Southern District of New York against sixteen financial institutions, including Deutsche Bank, Bank of America and Barclays Bank, for allegedly conspiring to fix the prices of bonds issued ...