NEW YORK – The Treasury Department announced today it expects to borrow $350 billion in the third quarter, up from $344 billion borrowed in the second quarter, but $26 billion less than Treasury expected it would be borrowing in the quarter in its previous estimate.
Treasury also expects to borrow $380 billion in the fourth quarter, with a $270 billion cash balance at year end.
Treasury expects a $270 billion cash balance on September 30, including $200 billion for the Supplementary Financing Program.
"The decrease in borrowing relates primarily to lower outlays and a higher-than-announced beginning-of-quarter cash balance," Treasury said in a statement.
Details of the quarterly refunding are scheduled to be released on Wednesday at 9 a.m., Eastern time.
