Treasury Department

The impasse increases the likelihood the House and Senate both vote on any deal next week, mere hours before June 1 the date by which the US could run out of cash to pay its bills.

Repo markets and the bank deposit business, in particular, would be upended if the U.S. were to default on its debt, experts say.

While the government is so far making payments, some have been delayed by banks doing lengthy checks that they aren’t breaching any restrictions.

The U.S. Treasury boosted its estimate of federal borrowing needs for the three months through March after entering the quarter with a cash pile that was run down by congressional delays in lifting the government’s debt limit.

Republicans believe there’s enough time left if Democrats start Wednesday or Thursday, a GOP aide said on condition of anonymity. Republicans could keep the vote-a-ramas very limited to keep things moving along.

The Supreme Court decision cleared the way for further revisions to the agreements between the Federal Housing Finance Agency and the Treasury, which could include dismissing the January changes.

President Biden plans to direct his administration to develop a strategy on climate-related risks for public and private financial assets, according to a draft document seen by Bloomberg News.

The government-sponsored enterprise announced Wednesday it will change eligibility criteria for vacation homes and investor properties starting April 1 to fulfill a directive by former Treasury Secretary Steven Mnuchin.

Janet Yellen was confirmed by the U.S. Senate as the country's 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.

The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear whether the incoming Biden administration will keep the mortgage giants on the same reform path.