(Archived Content)
HP-373
Washington, DC- Treasury announced its current estimates of net marketable financing today for the April – June 2007 and July – September 2007 quarters:
Treasury announced its current estimates of net marketable financing today for the April – June 2007 and July – September 2007 quarters:- Over the April – June 2007 quarter, the Treasury expects to pay down $145 billion of net marketable debt, assuming an end-of-June cash balance of $30 billion. The current estimated paydown is $15 billion greater than announced in January 2007. The decrease in borrowing is primarily the result of higher net issuances of State and Local Government Series securities.
- Over the July – September 2007 quarter, the Treasury expects to borrow $43 billion of net marketable debt, assuming an end-of-September cash balance of $45 billion.
During the January – March 2007 quarter, Treasury borrowed $126 billion of net marketable debt, finishing with a cash balance of $6 billion at the end of March. In January 2007, Treasury announced net marketable borrowing of $141 billion, assuming an end-of-March cash balance of $10 billion. The decrease in borrowing was primarily the result of higher-than-expected net issuances of State and Local Government Series securities.
Since 1997, the average absolute forecast error in net borrowing of marketable debt for the current quarter is $11 billion and the average absolute forecast error for the end-of-quarter cash balance is $9 billion. Similarly, the average absolute forecast error for the following quarter is $33 billion and the average absolute forecast error for the end-of-quarter cash balance is $11 billion.
Additional financing details relating to Treasury's Quarterly Refunding will be released at 9:00 a.m. on Wednesday, May 2.
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