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For Immediate Release

August 16, 2017

Treasurer Torsella Announces Draw of Full $750 Million STIP Loan

Issues statement regarding additional short-term loans

Harrisburg, PA – Treasurer Joe Torsella today announced the release to the General Fund of the full amount of a $750 million loan from Treasury’s Short Term Investment Pool (STIP).

“Today’s announcement regards the details of a troubling development: the Commonwealth’s need for a $750 million loan from Treasury’s STIP. This amount represents an unprecedented borrowing need this early in the fiscal year.”

Pennsylvania Treasurer, Joe Torsella