Treasury Announces Marketable Borrowing Estimates

November 2, 2009 -- Washington, D.C. -- The U.S. Department of the Treasury today announced its current estimates of marketable borrowing for the October – December 2009 and the January – March 2010 quarters:

* During the October – December quarter, Treasury expects to issue $276 billion in net marketable debt, assuming an end-of-December cash balance of $85 billion, which includes $15 billion for the Supplementary Financing Program (SFP). The borrowing estimate is $209 billion lower than announced in July 2009. The decrease in borrowing is primarily related to cash balance adjustments related to the SFP, and lower outlays offset partially by lower receipts.

* During the January - March quarter, Treasury expects to issue $478 billion in net marketable debt, assuming an end-of-March cash balance of $45 billion, which includes $15 billion for the SFP.
* These estimates do not include any incremental borrowing needs that would result from a potential increase in issuance under the SFP.

During the July – September 2009 quarter, Treasury issued $393 billion in net marketable debt, finishing the quarter with a cash balance of $275 billion, of which $165 billion was attributable to the SFP. In July, Treasury had estimated $406 billion in marketable borrowing for the quarter, assuming an end-of-September cash balance of $270 billion. The decrease in borrowing was primarily a result of lower outlays.

Additional financing details relating to Treasury's Quarterly Refunding will be released at 9:00 a.m. on Wednesday, November 4.

Source: Department of the Treasury