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Treasury expects to borrow $155 billion in first quarter
February 2, 2015 / 8:22 PM / 3 years ago

Treasury expects to borrow $155 billion in first quarter

WASHINGTON (Reuters) - The United States said on Monday it expects to borrow $155 billion in net marketable debt between January and March, down from a previous estimate of $209 billion.

The U.S. Treasury said it will pay down $7 billion in net marketable debt in the April-June quarter.

The department said it expected to reduce its cash balance, a step which is required by legislation passed early last February to suspend a legal limit on U.S. government borrowing, to $100 billion by end-March.

It assumed a cash balance of $150 billion at the end of June.

Reporting by Krista Hughes; Editing by Andrea Ricci

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