(Archived Content)
FROM THE OFFICE OF PUBLIC AFFAIRS
RR-2921The Treasury Department announced on Monday that net market borrowing for the January - March 1999 quarter is estimated to be a pay down of $5 billion with a cash balance of $20 billion on March 31. The Treasury also announced that net market borrowing for the April - June 1999 quarter is estimated to be a pay down in the range of $105 billion to $110 billion with a cash balance of $40 billion on June 30.
In the quarterly announcement of its borrowing needs on October 26, 1998, the Treasury estimated net market borrowing for the January - March quarter to be in the range of $15 billion to $20 billion with a cash balance of $20 billion on March 31. The improvement in net market borrowing is the result of higher receipts and lower outlays.
Actual net market borrowing for the October - December 1998 quarter was $24 billion with an end-of-quarter cash balance of $17.5 billion. On October 26, the Treasury estimated net market borrowing for the October - December quarter to be $30 billion with a cash balance of $15 billion on December 31. The decrease in net market borrowing was the result of higher receipts, lower outlays and higher net issuances of nonmarketable securities.
The regular quarterly Press Conference will be held 9 am Wednesday, February 3, 1999.