The Treasury General Account (TGA) is an account maintained by the United States Department of the Treasury at the Federal Reserve.[1] It receives tax payments and proceeds from the auction of Treasury securities, and disburses government payments to individuals and businesses.[2] Aside from its cash flow duties, it is also held to protect the Treasury from running out of money if Congress delays raising the debt ceiling.[3] The TGA is often described as the government's "checking account".[4][5][6] As of 1 February 2024[update], the balance of the account is US$813 billion.[7]
^Santoro, Paul J. (2012). "The Evolution of Treasury Cash Management during the Financial Crisis" (PDF). Current Issues in Economics and Finance. 18 (3). Federal Reserve Bank of New York. Archived (PDF) from the original on 25 February 2024. Retrieved 3 February 2024.
^Rao, Sujata (22 February 2021). "U.S. Treasury's cash drawdown - and why markets care". Reuters. Retrieved 3 February 2024.
^Klein, Matthew C. (29 March 2019). "The Federal Reserve Should 'Put America First'". Barron's. Archived from the original on 3 February 2024. Retrieved 3 February 2024.
^Capo McCormick, Liz; Harris, Alex (12 June 2020). "Treasury's Record Cash Pile Is Jerome Powell's $700 Billion Headache". Bloomberg. Archived from the original on 8 May 2021. Retrieved 3 February 2024.
^Miller, Rich; Capo McCormick, Liz (16 February 2021). "Yellen Shift on Vast Treasury Cash Pile Poses Problem for Powell". Bloomberg. Retrieved 3 February 2024.
^Wallerstein, Eric (20 June 2023). "Wall Street Buys More T-Bills, Parks Less at Fed". The Wall Street Journal. Archived from the original on 29 January 2024. Retrieved 3 February 2024.
^"Daily Treasury Statement". US Department of the Treasury. Archived from the original on 3 February 2024. Retrieved 3 February 2024.
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