The U.S. Department of the Treasury Monday announced its current
estimates of net marketable borrowing for the January – March 2012 and
the April – June 2012 quarters:
- During
the January – March 2012 quarter, Treasury expects to issue $444
billion in net marketable debt, assuming an end-of-March cash balance of
$30 billion. This borrowing estimate is $97 billion lower than announced in October 2011. More
than half of the decrease is due to relative changes in the opening and
end-of-quarter balances; the actual end-of-December balance was $26
billion higher, while the estimated end-of-March balance is $30 billion
lower. Higher receipts and lower outlays account for the majority of the remaining decrease.
- During
the April – June 2012 quarter, Treasury expects to issue $200 billion
in net marketable debt, assuming an end-of-June cash balance of $90
billion.
During the October – December 2011 quarter, Treasury issued $310
billion in net marketable debt, and ended the quarter with a cash
balance of $86 billion. In October 2011, Treasury
estimated $305 billion in net marketable borrowing and assumed an
end-of-December cash balance of $60 billion. The higher cash balance was driven primarily by higher-than-projected receipts and lower outlays.
Additional financing details relating to Treasury’s Quarterly
Refunding will be released at 9:00 a.m. on Wednesday, February 1, 2012.
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