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 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. In April 2024, Treasury estimated borrowing of $243 billion and assumed an end-of-June cash balance of $750 billion. Privately-held net marketable borrowing was $9 billion lower largely because higher net cash flows and lower SOMA redemptions were partially offset by a $28 billion higher ending cash balance.
Additional financing details relating to Treasury’s Quarterly Refunding will be released at 8:30 a.m. on Wednesday, July 31, 2024.