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 July – September 2014 and October – December 2014 quarters: 

• During the July – September 2014 quarter, Treasury expects to borrow $192 billion in net marketable debt, assuming an end-of-September cash balance of $150 billion. This borrowing estimate is $22 billion higher than announced in April 2014.  The increase in borrowing relates primarily to lower receipts and changes in cash balance assumptions[1].

• During the October – December 2014 quarter, Treasury expects to borrow $187 billion in net marketable debt, assuming an end-of-December cash balance of $140 billion.

During the April – June 2014 quarter, Treasury paid down $64 billion in net marketable debt and ended the quarter with a cash balance of $139 billion.  In April 2014, Treasury estimated a pay down in marketable debt of $78 billion assuming an end-of-June cash balance of $130 billion.  The increase in borrowing was primarily driven by the higher ending cash balance and lower receipts.

Additional financing details relating to Treasury’s Quarterly Refunding will be released at 8:30 a.m. on Wednesday, August 6, 2014.

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