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February 2, 2009
TG-07
Treasury Announces Marketable Borrowing Estimates
Washington, D.C. -- The U.S. Department of the Treasury today announced its current estimates of marketable borrowing for the January – March 2009 and April – June 2009 quarters:
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During the January – March 2009 quarter, Treasury expects to borrow $493 billion of marketable debt, assuming an end-of-March cash balance of $225 billion, which includes $200 billion for the Supplementary Financing Program (SFP). This borrowing estimate is $125 billion higher than announced in November 2008. The increase in borrowing is primarily due to the SFP, lower receipts, and higher outlays.
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During the April – June 2009 quarter, Treasury expects to borrow $165 billion of marketable debt, assuming an end-of-June cash balance of $45 billion.
During the October – December 2008 quarter, Treasury borrowed $569 billion of marketable debt, finishing at the end of December with a cash balance of $367 billion, of which $259 billion was attributable to the SFP. In November, Treasury estimated $550 billion in marketable borrowing, assuming an end-of-December cash balance of $300 billion. The increase in borrowing was related to lower receipts offset by lower outlays and adjustments in the cash balance.
Additional financing details relating to Treasury's Quarterly Refunding will be released at 9:00 a.m. on Wednesday, February 4.
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