WASHINGTON (MNI) – The U.S. Treasury estimated it will borrow $350
billion of net marketable debt for the third quarter of 2010, assuming a
$270 billion cash balance on September 30, the Treasury announced Monday
afternoon.
The cash balance includes $200 billion for the Supplementary
Financing Program (SFP).
The borrowing estimate is $26 billion lower than the prior
estimate of $376 billion borrowing, which assumed a cash balance of $270
billion at the end of September, including $200 billion for the SFP.
“The decrease in borrowing relates primarily to lower outlays and a
higher-than-announced beginning-of-quarter cash balance,” the Treasury
said.
For the fourth quarter of 2010, Treasury estimated it would borrow
$380 billion, assuming a $270 billion cash balance on December 31.
In the second quarter, Treasury’s actual borrowing was $344
billion, while the end-of-quarter cash balance was $290 billion,
including $200 billion for the SFP.
Previously, the department had announced it would borrow a net $340
billion in the second quarter with a $280 billion cash balance on June
30.
“The increase in the cash balance related to higher net cash flows
and net marketable borrowing,” Treasury said.
Details of the quarterly refunding are scheduled to be released on
Wednesday, August 4 at 9:00 a.m. ET.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MFU$$$,MGU$$$,MP$FI$]
