P.M. BRIEFING : U.S. to Borrow Added $6 Billion
The government will borrow $6 billion more than previously announced during the January-March quarter to meet the requirements of the savings and loan bailout, the Treasury Department announced today.
“Treasury estimates that a total of $47.6 billion of market borrowing will be required for the January-March period, including the $34.4 billion that had been issued or announced through Friday, Feb. 16,” it said.
The Treasury originally announced Jan. 31 it would need to borrow $41.6 billion.
The additional funds will be obtained through regular auctions of weekly three- and six-month bills and 52-week bills, the Treasury said. Cash management bills may also be necessary to cover low points in the cash balance, it said.
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