US Treasury Department reduces 3rd-quarter borrowing estimates to USD740B
Date
7/30/2024 5:45:35 AM
(MENAFN) On Monday, the US Treasury Department announced that it anticipates borrowing USD740 billion in privately held net marketable debt for the third quarter of 2024, which spans from July to September. This new estimate is USD106 billion less than the previous forecast released in April. The Treasury's projection assumes that the cash balance will be USD850 billion by the end of September.
For the fourth quarter of 2024, covering the period from October to December, the Treasury expects to borrow USD565 billion in privately held net marketable debt. This forecast is based on an anticipated cash balance of USD700 billion by the end of December. The updated borrowing estimates reflect adjustments in the Treasury's financial outlook and debt management strategies.
In the April to June 2024 quarter, the Treasury borrowed USD234 billion in privately held net marketable debt, concluding the period with a cash balance of USD778 billion. This is a revision from the initial April 2024 estimate, which projected borrowing of USD243 billion and an end-of-June cash balance of USD750 billion. The updated figures highlight a change in the Treasury's borrowing needs and cash management.
The revised borrowing estimates underscore shifts in the Treasury's financial planning and debt issuance strategy. These changes are influenced by evolving economic conditions and fiscal policies, impacting the Treasury's approach to managing its net marketable debt and maintaining liquidity.
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