FROM THE OFFICE OF PUBLIC AFFAIRS

The Treasury Department announced on Monday that its net market borrowing for the April – June 1997 quarter is estimated to be a paydown of $65 billion, with a cash balance of $35 billion on June 30.  The Treasury also announced that its net market borrowing for the July – September 1997 quarter is estimated to be in the range of $40 to $45 billion, with a cash balance of $40 billion on September 30, 1997.

In the quarterly announcement of its borrowing needs on February 3, 1997, the Treasury estimated net market borrowing for the April – June quarter to be a paydown in the range of $10 billion to $15 billion, assuming a $35 billion cash balance on June 30. 

Actual net market borrowing for the January – March 1997 quarter was $44.6 billion, while the end-of-quarter cash balance was $33.5 billion.  On February 3, the Treasury estimated net market borrowing for the January – March quarter to be $50 billion, with a $20 billion cash balance on March 31.  The combined improvement of $19 billion was the result of higher than estimated receipts and lower than estimated outlays.

 The regular quarterly Press Conference will be held at 1:00 PM on Wednesday, April 30, 1997.