US Treasury to Borrow More Funds Than Anticipated

The US authorities have revised borrowing projections for the third quarter upward, intending to borrow some $200 billion, the Treasury Department announced in a press release on Monday.

WASHINGTON (Sputnik) — In January 2016, US federal debt stood at $19 trillion, according to the Treasury.

"During the July–September 2016 quarter, Treasury expects to borrow $201 billion in net marketable debt," the release said. "This borrowing estimate is $47 billion higher than announced in May 2016."

The Treasury explained the increase in borrowing by "a higher end-of-quarter cash balance estimate and lower receipts."

In the October–December quarter, the US authorities will likely issue $182 billion in net marketable debt, the department noted.