U.S. Department of the Treasury

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WASHINGTON -- The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the January – March 2015 and April – June 2015 quarters:

• During the January – March 2015 quarter, Treasury expects to issue $155 billion in net marketable debt, assuming an end-of-March cash balance of $100 billion.  This borrowing estimate is $54 billion lower than announced in November 2014.  The decrease in borrowing relates primarily to changes in cash balance assumptions and lower outlays [1].

• During the April – June 2015 quarter, Treasury expects to pay down $7 billion in net marketable debt, assuming an end-of-June cash balance of $150 billion.

During the October – December 2014 quarter, Treasury issued $227 billion in net marketable debt and ended the quarter with a cash balance of $223 billion.  In November 2014, Treasury had estimated $232 billion in net marketable debt and assumed an end-of-December cash balance of $200 billion.  The decrease in borrowing was driven primarily by a lower financing need and more cash from all other sources, 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, February 4, 2015.

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