U.S. Department of the Treasury

WASHINGTON - The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the January – March 2014 and April – June 2014 quarters:

During the January – March 2014 quarter, Treasury expects to issue $284 billion in net marketable debt, assuming an end-of-March cash balance of $130 billion.  This borrowing estimate is $19 billion higher than announced in October 2013.  The increase in borrowing relates primarily to changes in cash balance assumptions [[1]] offset by higher receipts.

• During the April – June 2014 quarter, Treasury expects to pay down $40 billion in net marketable debt, assuming an end-of-June cash balance of $150 billion.

• During the October – December 2013 quarter, Treasury issued $264 billion in net marketable debt and ended the quarter with a cash balance of $162 billion.  In October 2013, Treasury had estimated $266 billion in net marketable debt and assumed an end-of-December cash balance of $140 billion.  The decrease in borrowing is driven by the higher receipts, lower outlays, 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, February 5, 2014.