Wednesday, 25 Nov 2020

U.S. Treasury cuts borrowing estimate for fourth quarter

FILE PHOTO: U.S. dollar notes are seen in this picture illustration taken at the Bank of Taiwan in Taipei November 11, 2010. REUTERS/Nicky Loh

NEW YORK (Reuters) – The U.S. Treasury said on Monday said it plans to borrow $617 billion in the fourth quarter, lower than the August estimate, with the decline due to the department’s higher cash balance at the beginning of October.

The $617-billion estimate assumes an end-December cash balance of $800 billion, the Treasury said in a statement.

The Treasury also said it issued $454 billion in net debt in the third quarter, ending the three-month period with a cash balance of $1.782 trillion. In the July to September quarter, the Treasury said it issued $454 bln in net debt.

Source: Read Full Article

Related Posts