–Lower 3Q Estimate Due To Smaller Outlays, Cash Balance Adjustments
WASHINGTON (MNI) – The U.S. Treasury estimated it will borrow $331
billion of net marketable debt in the third quarter of 2011, assuming a
$110 billion cash balance on September 30, the Treasury announced
Monday afternoon.
The borrowing estimate is smaller than the prior estimate of $405
billion borrowing, which assumed a cash balance of $115 billion at the
end of September.
“The decrease in borrowing largely relates to lower outlays and
cash balance adjustments,” Treasury said.
For the fourth quarter of 2011, Treasury estimated it would borrow
$285 billion, assuming a $100 billion cash balance on December 31.
In the second quarter of this year, Treasury’s actual borrowing was
$190 billion, while the end-of-quarter cash balance was $137 billion,
including $5 billion for the SFP.
Previously, the department had announced it would borrow a net $142
billion in the second quarter with a $95 billion cash balance on June
31.
Details of the quarterly refunding are scheduled to be released on
Wednesday, August 3 at 9:00 a.m. ET.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MFU$$$,MGU$$$,MP$FI$]
