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LS-37
The Treasury Department announced on Monday that its net market borrowing for the July � September 1999 quarter is estimated to be a paydown of $11 billion with a cash balance of $45 billion on September 30. The Treasury also announced that net market borrowing for the October � December 1999 quarter will be approximately $65 billion with a cash balance of $80 billion on December 31.
In the quarterly announcement of its borrowing needs on May 3, 1999, the Treasury estimated net market borrowing for the July � September quarter to be a paydown of approximately $10 billion with a cash balance of $45 billion on September 30. Current estimates are consistent with those released in May.
Actual net market borrowing for the April - June 1999 quarter resulted in a paydown of $113.8 billion with an end-of-quarter cash balance of $53.1 billion. On May 3, the Treasury estimated market borrowing for the January - March quarter to be a paydown of $116 billion with an end-of-quarter cash balance of $55 billion on June 30. The decrease in the paydown and the cash balance are the result of a slight reduction in receipts relative to the forecast.
The regular quarterly Press Conference will be held at 9:00 AM on Wednesday, August 4, 1999.