U.S. Treasury expects to borrow $26 billion in second quarter

WASHINGTON (Reuters) - The U.S. Treasury said on Monday it expects to borrow more during the April-June period than it had previously estimated.

The Treasury said in a statement it expects to issue $26 billion through credit markets during the period, assuming an end-June cash balance of $200 billion. The borrowing estimate is $24 billion more than its initial estimate.

Treasury said it expects to borrow $98 billion in net marketable debt in the July-September quarter, assuming an end-September cash balance of $115 billion.

During the January-March quarter, Treasury borrowed $40 billion and ended the quarter with a cash balance of $92 billion. In January, Treasury estimated borrowing of $57 billion for the quarter. It said the decrease was driven primarily by higher receipts.

Additional details of the Treasury's quarterly refunding will be announced at 0830 EDT (1230 GMT) on Wednesday.

(Reporting by Lindsay Dunsmuir; Editing by Andrea Ricci)

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