February 1, 2010
TG-524

Treasury Announces Marketable Borrowing Estimates

To view the Sources and Uses Table, visit link.

Washington, D.C. -- The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the January – March 2010 and the April – June 2010 quarters:

• During the January – March 2010 quarter, Treasury expects to issue $392 billion in net marketable debt, assuming an end-of-March cash balance of $95 billion, which includes $5 billion for the Supplementary Financing Program (SFP).  The borrowing estimate is $86 billion lower than announced in November 2009.  The decrease in borrowing is primarily related to cash balance adjustments and lower outlays offset partially by lower receipts. 
• During the April – June 2010 quarter, Treasury expects to issue $268 billion in net marketable debt, assuming an end-of-June cash balance of $85 billion, which includes $5 billion for the SFP.
• These estimates do not include any incremental borrowing needs that would result from a potential increase in issuance under the SFP.

During the October – December 2009 quarter, Treasury issued $260 billion in net marketable debt, finishing the quarter with a cash balance of $194 billion, of which $5 billion was attributable to the SFP.  In November, Treasury had estimated $276 billion in marketable borrowing for the quarter, assuming an end-of-December cash balance of $85 billion, which included an SFP balance of $15 billion.  The decrease in borrowing was primarily related to a lower SFP balance.  The higher end-of-quarter cash balance was primarily related to greater-than-expected Troubled Asset Relief Program repayments in December.

Additional financing details relating to Treasury's Quarterly Refunding will be released at 9:00 a.m. on Wednesday, February 3.

###