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The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the October – December 2021 and January – March 2022 quarters.[2]
- During the October – December 2021 quarter, Treasury expects to borrow $1,015 billion in privately-held net marketable debt, assuming an end-of-December cash balance of $650 billion.[3] The borrowing estimate is $312 billion higher than announced in August 2021, primarily due to the lower beginning of quarter balance, somewhat offset by a lower end-of-quarter balance and higher receipts.
- During the January – March 2022 quarter, Treasury expects to borrow $476 billion in privately-held net marketable debt, assuming an end-of-March cash balance of $650 billion.3
During the July – September 2021 quarter, Treasury borrowed $103 billion in privately-held net marketable debt and ended the quarter with a cash balance of $215 billion. In August 2021, Treasury estimated privately-held net marketable borrowing of $673 billion and assumed an end-of-September cash balance of $750 billion. The $570 billion decrease in borrowing resulted primarily from the decrease in the end-of-September cash balance and, to a less extent, from an increase in receipts and a decrease in expenditures.[4]
Additional financing details relating to Treasury’s Quarterly Refunding will be released at 8:30 a.m. on Wednesday, November 3, 2021.
