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Treasury Announces Marketable Borrowing Estimates

January 29, 2024 / Source: Treasury

Sources and Uses Table

WASHINGTON — The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the January – March 2024 and April – June 2024 quarters.

  • During the January – March 2024 quarter, Treasury expects to borrow $760 billion in privately-held net marketable debt, assuming an end-of-March cash balance of $750 billion.[2] The borrowing estimate is $55 billion lower than announced in October 2023, largely due to projections of higher net fiscal flows and a higher beginning of quarter cash balance.[3]
  • During the April – June 2024 quarter, Treasury expects to borrow $202 billion in privately-held  net marketable debt, assuming an end-of-June cash balance of $750 billion.[4]

During the October – December 2023 quarter, Treasury borrowed $776 billion in privately-held net marketable debt and ended the quarter with a cash balance of $769 billion. In October 2023, Treasury estimated borrowing of $776 billion and assumed an end-of-December cash balance of $750 billion. There was no change in privately-held net market borrowing although the ending cash balance was $19 billion higher due primarily to other sources of financing including lower than projected discount on marketable borrowing.

Additional financing details relating to Treasury’s Quarterly Refunding will be released at 8:30 a.m. on Wednesday, January 31, 2024.