News Releases - April 2020


Treasurer Torsella Praises Move by Commonwealth’s Largest Pension Fund

Torsella issues statement on PSERS monitoring managers to discourage use of emergency aid money

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today issued the following statement on the commitment by Pennsylvania’s Public School Employees’ Retirement System (PSERS) to monitor its existing and any potential asset managers to ensure they did not take advantage of the rescue program designed for small businesses.



Treasurers Renew Call For All Ventilator Manufacturers To Release Repair Information

Coalition commends some of world’s largest ventilator manufacturers who have released repair manuals, while others still lag behind

Harrisburg, PA - As several large ventilator manufacturers have taken new steps to release repair information, Pennsylvania Treasurer Joe Torsella today issued the following statement, on behalf of a coalition of fiscal officers who earlier this month called on two dozen ventilator manufacturers to release necessary repair information for hospitals to use in the fight against COVID-19.



Five State Treasurers Call On Manufacturers To Release Ventilator Repair Manuals

Hospitals should be able to make repairs to ventilators to serve more patients, treasurers say

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today joined with Delaware Treasurer Colleen Davis, Illinois Treasurer Michael Frerichs, Rhode Island Treasurer General Seth Magaziner, and Colorado Treasurer Dave Young to call on manufacturers of ventilators to release service manuals to repair ventilators, for the duration of the coronavirus pandemic. Without this critically important information, hospitals are unable to make repairs to ventilators, rendering them unusable during a time of dire need.



Treasurer Torsella Announces Program to Provide Relief for PA Hospitals Fighting COVID-19

Treasury to engage in markets to reduce interest costs and provide liquidity to aid Pennsylvania hospitals

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced a bond purchasing program that seeks to provide financial relief to non-profit and public healthcare systems in Pennsylvania. This would help to provide liquidity to healthcare systems, while reducing the extreme borrowing costs they have recently incurred, caused by unusual market volatility.



Treasurer Torsella Extends General Fund Line of Credit as Commonwealth Responds to COVID-19

Treasury taking prudent steps to meet immediate cash flow needs, including extending line of credit and capping interest rate at 2%

Harrisburg, PA - Pennsylvania State Treasurer Joe Torsella today issued the following statement regarding the liquidity of Commonwealth funds in the coming months and the steps Treasury has taken to preserve the ability of the Commonwealth to meet critical expenditure needs: