Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced the repayment of the $700 million line of credit authorized on October 12th from Treasury’s Short Term Investment Pool (STIP) to the Commonwealth’s General Fund.
The most recent line of credit authorized was released in full to the General Fund on October 13th. The Commonwealth had until October 20 to pay back the loan at an interest rate of 85 basis points, or a calculated interest charge of $99,166.67.
In August, Treasurer Torsella announced the authorization of a two-week $750 million line of credit. Repayment of that loan was made on August 24th, and also resulted in a calculated interest charge of $141,667.