A letter on Friday announcing the Treasury secretary's intent to buy the U.S. Postal Service's entire $3 billion debt offering does not rule out that the debt can be callable.

Treasury Undersecretary Jerome H. Powell wrote in the letter to Postmaster General Marvin T. Runyon: "As part of this consultation and prior to our actual purchase of these obligations, we will require a satisfactory opinion from your general counsel that the proposed transaction is in accordance with all applicable laws."

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