Treasury Announces Marketable Borrowing Estimates
WASHINGTON -- The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing for the July–September 2026 and October–December 2026 quarters.
Additional financing details relating to Treasury’s Quarterly Refunding will be released at 8:30 a.m. on Wednesday, August 5, 2026.
1. Privately-held net marketable borrowing excludes rollovers (auction “add-ons”) of Treasury securities held in the SOMA but includes financing required due to SOMA redemptions. Secondary market purchases of Treasury securities by SOMA do not directly change privately-held net marketable borrowing but, all else equal, when the securities mature and assuming the Federal Reserve does not redeem any maturing securities, would increase the amount of cash raised for a given privately-held auction size by increasing the SOMA “add-on” amount. Additionally, buybacks are not expected to significantly affect privately-held net marketable borrowing as new issuance replaces securities that are bought back.
2.
April - June Quarter
July - September Quarter
Prior
Current
Change
Prior
Current
Change
$893
$893
$0
$900
$919
$19
$900
$919
$19
$950
$950
$0
$7
$26
$19
$50
$31
-$19