U.S. federal govt to borrow $72 bln in November

U.S. federal govt to borrow $72 bln in November

The U.S. Treasury Department on Wednesday announced to offer 72 billion dollars of Treasury securities to refund the federal government's fiscal imbalance.

The 72-billion-dollar securities will refund approximately 23.9 billion dollars of securities maturing on Nov.15, 2011. This will raise approximately 48.1 billion dollars of new cash, said the department in its November 2011 quarterly refunding statement.

The newly offering securities include a 3-year note in the amount of 32 billion dollars, maturing Nov.15 2014; a 10-year note in the amount of 24 billion and a 30-year bond in the amount of 16 billion.

According to the August 2011 quarterly refunding, U.S. Treasury indicated that it expected to modestly decrease offering amounts for notes and bonds in the coming months. Given the current range of potential fiscal policy outcomes, Treasury said it is prudent to hold offering sizes for notes and bonds stable over the near term.

The U.S. federal government registered a nearly 1.3 trillion U. S. dollars budget deficit for the 2011 fiscal year ending September, fresh evidence of the mounting budgetary pressure facing the world's largest economy.

Treasury Secretary Timothy Geithner said earlier this year that the U.S. government borrows about 40 cents on every dollar it spends.

Editor: Chen Zhi

English.news.cn   2011-11-03 00:14:21 FeedbackPrintRSS
WASHINGTON, Nov. 2 (Xinhua)