Jul 28, 2011 8:03 PM by Dr. Anya Winslow

Treasury inviting big banks to debt meeting

WASHINGTON (AP) - Executives from the nation's largest banks will have an opportunity Friday to ask Treasury Department officials face to face about what will happen if Congress fails to raise its borrowing limit before next week's deadline.

The Treasury invited the 20 largest banks to a meeting to discuss an upcoming quarterly auction of government debt. The discussions will take place at noon at the New York Federal Reserve.

Normally Treasury officials meet individually with representatives from 10 of the banks. But Treasury officials said they felt it was important to have a group meeting on Friday with all the banks to hear their concerns.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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