BANKING & FINANCE - Aug. 3, 1993

Treasury Sets Borrowing Needs: The Treasury Department estimated it will need to borrow $58.3 billion in 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 3-year and 10-year notes and 30-year bonds. The projection for the current quarter, which assumes a $40-billion cash balance on Sept. 30, is considerably less than the $90 billion to $95 billion estimated on May 3. The Treasury said it carried a larger than expected cash balance over from the April-June quarter and now expects less spending during the July-September quarter by the Resolution Trust Corp., the agency handling the savings and loan cleanup. In the October-December quarter, the Treasury Department estimated it will borrow $95 billion to $100 billion.