U.S. Department of the Treasury

Washington, D.C. -- The U.S. Department of the Treasury today announced its current estimates of marketable borrowing for the April - June 2009 and July – September 2009 quarters:

• During the April – June 2009 quarter, Treasury expects to borrow $361 billion of marketable debt, assuming an end-of-June cash balance of $245 billion, which includes $200 billion for the Supplementary Financing Program (SFP).   The borrowing estimate is $196 billion higher than announced in February 2009.   The increase in borrowing is primarily related to a continuation of the SFP, and lower receipts and outlays. 
• During the July – September quarter, Treasury expects to borrow $515 billion of marketable debt, assuming an end-of-September cash balance of $270 billion, which includes $200 billion for the SFP.

During the January – March 2009 quarter, Treasury borrowed $481 billion of marketable debt, finishing at the end of March with a cash balance of $269 billion, of which $200 billion was attributable to the SFP.   In February, Treasury estimated $493 billion in marketable borrowing, assuming an end-of-March cash balance of $225 billion.   The decrease in borrowing was related to lower receipts offset by lower outlays and adjustments in the cash balance.

Additional financing details relating to Treasury's Quarterly Refunding will be released at 9:00 a.m. on Wednesday, April 29.