U S Department of Treasury : Treasury Announces Marketable Borrowing Estimates

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WASHINGTON - The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for January - March 2019 and April - June 2019 quarters:

• During the January - March 2019 quarter, Treasury expects to borrow $365 billion in privately held net marketable debt, assuming an end-of-March cash balance of $320 billion. The borrowing estimate is $8 billion higher than announced in October 2018. The increase in borrowing is driven primarily by a lower than previously assumed opening cash balance.[2]
• During the April - June 2019 quarter, Treasury expects to borrow $83 billion in privately-held net marketable debt, assuming an end-of-June cash balance of $300 billion.

During the October - December 2018 quarter, Treasury borrowed $426 billion in privately-held net marketable debt and ended the quarter with a cash balance of $402 billion. In October 2018, Treasury estimated privately-held net marketable borrowing of $425 billion and assumed an end-of-December cash balance of $410 billion.[2] The slight change in borrowing resulted from the higher end-of-quarter cash balance partially offset by higher net cash flows.

Additional financing details relating to Treasury's Quarterly Refunding will be released at 8:30 a.m. on Wednesday, January 30, 2019.

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[1] Privately-held net marketable borrowing excludes rollovers (auction 'add-ons') of Treasury securities held in the Federal Reserve's System Open Market Account (SOMA), but includes financing required due to SOMA redemptions.
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