(Archived Content)
FROM THE OFFICE OF PUBLIC AFFAIRS
LS-194
The Treasury Department announced on Monday that its net market borrowing for the October December 1999 quarter is estimated to be $51 billion with a cash balance of $70 billion on December 31, 1999. The Treasury Department also announced that net market borrowing for the January March 2000 quarter will be a paydown of $12 billion with a cash balance of $20 billion on March 31.
In the quarterly announcement of its borrowing needs on August 2, 1999, the Treasury Department estimated net market borrowing for the October December quarter to be $65 billion with a cash balance of $80 billion on December 31, 1999. Current estimates reflect a higher opening cash balance, lower net issues of State and Local Series securities than previously estimated, and a lower target balance on December 31.
Actual net market borrowing for the July September 1999 quarter was a paydown of $15.9 billion with a cash balance of $56.5 billion on September 30. On August 2, the Treasury Department announced its current estimate of net market borrowing to be a paydown of $11 billion with a cash balance of $45 billion on September 30. The increase in the paydown was the result of lower outlays than estimated.
The Quarterly Refunding Press Conference will be held at 9:00 AM on Wednesday, November 3, 1999.