the treasury department on monday said it expects to borrow 444 billion in privatelyheld net marketable debt during the julyseptember 2022 quarter assuming an endofseptember cash balance of 650 billion the borrowing estimate is 262 billion higher than announced in may 2022 primarily due to changes to projections of fiscal activity and the estimated impact of federal reserve system open market account or soma redemptions of 120 billion the department said during the octoberdecember 2022 quarter treasury said it expects to borrow 400 billion in privatelyheld net marketable debt assuming an endofdecember cash balance of 700 billion including the impact of an estimated 139 billion in soma redemptions treasury said that it borrowed 7 billion in privatelyheld net marketable debt in the apriljune period and ended the quarter with a cash balance of 782 billion in may 2022 treasury estimated a paydown of 26 billion and assumed an endofjune cash balance of 800 billion the 33 billion difference in privatelyheld net market borrowing resulted primarily from the 30 billion in net soma redemptions the department said additional financing details around the treasurys quarterly refunding will be released at 830 am et on wednesday am on wednesday august 3 2022