BANKING & FINANCE - Aug. 4, 1992

Treasury Readies Debt Auction: The Treasury Department estimates that it will need to borrow $75 billion during the July-September quarter. On Wednesday, it will announce how it will sell the debt, including the makeup of refinancing auctions next week to sell three-year and 10-year notes and 30-year bonds. The projection for the current quarter, which assumes a $35-billion cash balance at the end of September, is down from the $110 billion to $115 billion estimated on April 27. Actual borrowing in the April-June quarter totaled $52.8 billion, with an end-of-quarter cash balance of $47 billion. Borrowing was $10 billion more than estimated in April.