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FROM THE OFFICE OF PUBLIC AFFAIRS October 29, 2001PO-736 The Treasury Department announced today that it expects to borrow $31 billion in marketable debt during the October - December 2001 quarter and to target a cash balance of $35 billion on December 31. This includes borrowing of an estimated $40 billion in marketable Treasury securities and buybacks of an estimated $9 billion in outstanding marketable Treasury securities. In the quarterly announcement on July 30, 2001, Treasury announced that it expected to pay down a total of $36 billion in marketable debt and to target an end-of-quarter cash balance of $30 billion. The change in borrowing reflects lower receipts from a weakening economy and fiscal response to the September 11th terrorist attacks already enacted. Treasury also announced that it expects to borrow $59 billion in marketable debt during the January - March 2002 quarter and to target a cash balance of $30 billion on March 31. During the July - September 2001 quarter, Treasury borrowed $74 billion in marketable debt and ended with a cash balance of $44 billion on September 30. This included borrowing of $82 billion in marketable Treasury securities and buybacks of $73/4 billion in outstanding marketable Treasury securities. On July 30, Treasury announced that it expected to borrow $51 billion in marketable debt and to target an end-of-quarter cash balance of $55 billion. The increase in borrowing was primarily a result of lower receipts and slightly higher outlays. The Quarterly Refunding Press Conference will be held at 9:00 A.M. on Wednesday, October 31, 2001.
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