The Treasury Department said Monday it estimates it will borrow $192 billion in the third quarter of 2014, assuming a $150 billion cash balance on September 30, 2014.
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In April, Treasury estimated its borrowing needs for the quarter would be $169 billion, assuming a cash balance of $130 billion.
In the second quarter, Treasury paid down $64 billion, ending with a cash balance of $139 billion, compared to an estimated $78 billion pay down and a $130 billion cash balance.
Treasury expects to borrow $187 billion in the fourth quarter, and end the calendar year with a cash balance of $140 billion.
Details of the quarterly refunding will be released Wednesday, August 6.
