U.S. Department of the Treasury

(Archived Content)

FROM THE OFFICE OF PUBLIC AFFAIRS

The U.S. Treasury Department announced today that net market borrowing for the April - June 2000 quarter is estimated to be a paydown of $185 billion with a cash balance of $50 billion on June 30. The Treasury Department also announced that net market borrowing for the July - September 2000 quarter will be a paydown of $47 billion with a cash balance of $45 billion on September 30.

In the quarterly announcement of its borrowing needs on January 31, 2000, the Treasury Department estimated net market borrowing for the April - June 2000 to be a paydown of $152 billion with a cash balance of $40 billion on June 30, 2000. The additional debt paydown and the larger cash balance currently estimated are the result of higher receipts.

Actual net market borrowing for the January - March 2000 quarter was a paydown of $20 billion with a cash balance of $45 billion on March 31, 2000. On January 31, the Treasury Department estimated net market borrowing to be a paydown of $17 billion with a cash balance of $40 billion on March 31. The increase in the paydown and the larger cash balance were the result of higher receipts and lower outlays.

The Quarterly Refunding press conference will be held at 9 a.m. on Wednesday, May 3.