BANKING & FINANCE - April 2, 1993

Treasury Postpones Bill Auction Because of Debt Limit: The Treasury Department postponed a scheduled auction of $14.25 billion in 52-week bills because Congress had not raised the federal debt limit. A Clinton Administration request to raise the limit to $4.37 trillion from $4.145 trillion had cleared the House but was still pending in the Senate, which is expected to act before adjourning this week for its spring recess. The 52-week bills scheduled to be sold Thursday would have settled April 8, one day after the Treasury would lose its authority to borrow because of the debt ceiling.