CHICAGO—October 15, 2013—"With the U.S. debt ceiling deadline nearing, I, along with my state treasurer investment team, will continue to monitor the situation in Washington and the impact it could have on our state finances," said Illinois State Treasurer Dan Rutherford.

The Illinois State Treasurer's Office utilizes U.S. Treasury securities as an important investment tool for the state's portfolio, specifically to match up cash with anticipated payments. The state of Illinois currently holds $1.2 billion in U.S. Treasury bills, set to mature between October 17 and November 15, 2013. "I have ensured that the Illinois State Treasury is positioned for a possible short-term technical default on U.S. Treasury bills," explained Treasurer Rutherford. "This planning will allow the state to meet its liquidity needs, such payments on general obligation bonds and interest on a short-term basis."