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FROM THE OFFICE OF PUBLIC AFFAIRS To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®. May 3, 2004 Treasury Announces Market Financing Estimates The Treasury Department announced today that it expects net borrowing of marketable debt to total $38 billion in the April – June 2004 quarter. The projected cash balance on June 30 is $45 billion. In the last quarterly announcement on Treasury also announced that it expects net borrowing of marketable debt to total $91 billion in the July – September 2004 quarter. The projected cash balance on September 30 is $35 billion. During the January – March 2004 quarter, Treasury’s net marketable borrowing totaled $146 billion and the cash balance on March 31 was $21 billion. On February 2, Treasury announced that it expected net marketable borrowing to total $177 billion with an end-of-quarter cash balance of $20 billion. The decrease in borrowing is largely attributable to lower tax refunds and higher payroll taxes. Additional financing details relating to Treasury’s Quarterly Refunding will be released at
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