Sources and Uses Table
WASHINGTON – The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the October – December 2024 and January – March 2025 quarters.
- During the October – December 2024 quarter, Treasury expects to borrow $546 billion in privately-held net marketable debt, assuming an end-of-December cash balance of $700 billion. [2],[3] The borrowing estimate is $19 billion lower than announced in July 2024, largely due to a higher beginning-of-quarter cash balance partially offset by lower net cash flows.
- During the January – March 2025 quarter, Treasury expects to borrow $823 billion in privately-held net marketable debt, assuming an end-of-March cash balance of $850 billion.[4]
During the July – September 2024 quarter, Treasury borrowed $762 billion in privately-held net marketable debt and ended the quarter with a cash balance of $886 billion. In July 2024, Treasury estimated borrowing of $740 billion and assumed an end-of-September cash balance of $850 billion. Privately-held net marketable borrowing was $22 billion higher largely because of a $36 billion higher ending cash balance partially offset by higher net cash flows.
Additional financing details relating to Treasury’s Quarterly Refunding will be released at 8:30 a.m. on Wednesday, October 30, 2024.