Treasury Announces Marketable Borrowing Estimates

Sources and Uses TableWASHINGTON – The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the July – September 2024 and October – December 2024 quarters. During the July – September 2024 quarter, Treasury expects to borrow $740 billion in privately-held net marketable debt, assuming an end-of-September cash balance of $850 billion.[2] The borrowing estimate is $106 billion lower than announced in April 2024, largely due to lower Federal Reserve System Open Market Account (SOMA) redemptions and a higher beginning-of-quarter cash balance.[3]During the October – December 2024 quarter, Treasury expects to borrow $565 billion in privately-held net marketable debt, assuming an end-of-December cash balance of $700 billion.[4]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.