U.S. Department of the Treasury

(Archived Content)

FROM THE OFFICE OF PUBLIC AFFAIRS

The Treasury Department announced on Monday that its net market borrowing for the July September 1999 quarter is estimated to be a paydown of $11 billion with a cash balance of $45 billion on September 30.  The Treasury also announced that net market borrowing for the October December 1999 quarter will be approximately $65 billion with a cash balance of $80 billion on December 31.

In the quarterly announcement of its borrowing needs on May 3, 1999, the Treasury estimated net market borrowing for the July September quarter to be a paydown of approximately $10 billion with a cash balance of $45 billion on September 30.  Current estimates are consistent with those released in May.

Actual net market borrowing for the April - June 1999 quarter resulted in a paydown of $113.8 billion with an end-of-quarter cash balance of $53.1 billion.  On May 3, the Treasury estimated market borrowing for the January - March quarter to be a paydown of $116 billion with an end-of-quarter cash balance of $55 billion on June 30.  The decrease in the paydown and the cash balance are the result of a slight reduction in receipts relative to the forecast.

 The regular quarterly Press Conference will be held at 9:00 AM on Wednesday, August 4, 1999.