US Treasury lowers Q3 borrowing estimate to $740B

By Ovunc Kutlu

ISTANBUL (AA) - The US Treasury Department announced Monday it expects to borrow $740 billion in privately held net marketable debt, assuming a cash balance of $850 billion by the end of September.

The 3rd quarter figure, from July through September, is $106 billion lower than the previous estimate that was announced in April, it said in a statement.

During the October-December period, or 4th quarter of this year, the Treasury Department expects to borrow $565 billion in privately-held net marketable debt, assuming a cash balance of $700 billion by the end of December.

"During the April – June 2024 quarter, Treasury borrowed $234 billion in privately-held net marketable debt and ended the quarter with a cash balance of $778 billion," said the statement.

"In April 2024, Treasury estimated borrowing of $243 billion and assumed an end-of-June cash balance of $750 billion," it added.