The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the April – June 2014 and July – September 2014 quarters:
- During the April – June 2014 quarter, Treasury expects to pay down $78 billion in net marketable debt, assuming an end-of-June cash balance of $130 billion. This pay down estimate is $38 billion higher than announced in February 2014. The increase in the estimated pay down relates primarily to changes in cash balance assumptions[1]
- During the July – September 2014 quarter, Treasury expects to borrow $169 billion in net marketable debt, assuming an end-of-September cash balance of $130 billion.
During the January – March 2014 quarter, Treasury issued $265 billion in net marketable debt and ended the quarter with a cash balance of $142 billion. In February 2014, Treasury estimated marketable borrowing of $284 billion assuming an end-of-March cash balance of $130 billion. The decrease in borrowing was driven by higher receipts and lower outlays partially offset by a higher ending cash balance.
Additional financing details relating to Treasury’s Quarterly Refunding will be released at 8:30 a.m. on Wednesday, April 30, 2014.
View the Sources and Uses table here.
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1Cash Balance |
January - March Quarter |
April - June Quarter |
||||
Assumptions |
Prior |
Current |
Change |
Prior |
Current |
Change |
Opening Balance |
$162 |
$162 |
$0 |
$130 |
$142 |
$12 |
Closing Balance |
$130 |
$142 |
$12 |
$150 |
$130 |
-$20 |
Impact on Borrowing |
-$32 |
-$20 |
$12 |
$20 |
-$12 |
-$32 |