WASHINGTON — The U.S. Treasury expects to issue $182 billion in net marketable debt for the April-June quarter and $265 billion during the July-September quarter, the department announced Monday.

Both quarterly projections assume an end-of-quarter cash balance of $95 billion.

The April-June borrowing expectation is $19 billion lower than the Treasury announced in January. The decrease is primarily due to projections of lower outlays and higher issuance of state and local government securities, partially offset by lower receipts, the department said.

During the January-March quarter, the Treasury issued $401 billion in net marketable debt, and ended the quarter with a cash balance of $43 billion. In January, The Treasury estimated $444 billion in net marketable borrowing and assumed an end-of-March cash balance of $30 billion. The higher cash balance and lower borrowing were driven primarily by the same factors effecting the April-June quarter.

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