The Treasury Department yesterday said it will borrow $361 billion in the second quarter and finish with a cash balance of $245 billion.
Treasury said the cash balance includes $200 billion for the supplemental finance program.
The $361 billion figure is more than double the initial estimates of $165 billion in borrowing in the quarter. The department said the continuation of the SFP and lower receipts partly offset by lower outlays caused the increase in its borrowing needs.
Treasury plans to borrow $515 billion in the third quarter, and finish with a $270 billion cash balance, which includes $200 billion for the SFP.
In the first quarter, the department borrowed $481 billion and concluded with a $269 billion cash balance on March 31, again including $200 billion for the SFP.
Treasury will announce details of the quarterly refunding on Wednesday.
