The Treasury Department will borrow an estimated $284 billion of debt in the first quarter of 2014, it announced Monday, and will end the quarter with a $130 billion cash balance.
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Previously, Treasury estimated its borrowing needs for the quarter at $265 billion, and a $45 billion expected balance.
Last quarter, the Treasury borrowed $264 billion and ended the year with a $162 billion cash balance, compared with estimates of $266 billion in borrowing and a $140 billion balance.
Treasury plans to pay down $40 billion of debt next quarter, ending with a $150 billion cash balance.
Treasury will detail its quarterly refunding Wednesday morning.
