The Treasury Department announced today that it expects to pay down $42 billion in net marketable debt during the April June 2005 quarter. The estimated cash balance on June 30 is $20 billion. On January 31, Treasury announced a net market borrowing of $12 billion with an end-of-quarter cash balance of $15 billion. The decrease in borrowing is primarily the result of higher individual tax receipts and State and Local Government Series security issuances.
Treasury also announced that it expects net borrowing of marketable debt to total $103 billion in the July September 2005 quarter. The estimated cash balance on September 30 is $30 billion.
During the January March 2005 quarter, Treasury's net borrowing of marketable debt totaled $144 billion and the cash balance on March 31 was $22 billion. On January 31, Treasury announced that it expected net borrowing of marketable debt to total $147 billion with an estimated end-of-quarter cash balance of $10 billion. The higher cash balance is primarily the result of larger-than-projected issuances of State and Local Government Series securities.
Additional financing details relating to Treasury's Quarterly Refunding will be released at 9:00 A.M. on Wednesday, May 4.
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