US Treasury to borrow $574 bln in Q1

NEW YORK, Feb 2 (Reuters) - The U.S. Treasury said on Monday it expects to borrow $574 billion in the first quarter, $3 billion lower than the November estimate primarily due to the higher beginning-of-quarter cash balance that was partially offset by lower projected net cash flows.

The first-quarter financing estimate assumes a cash balance of $850 billion at the end of March, the Treasury said in a statement.

The Treasury also said it expects to borrow $109 billion in the second quarter, as it forecasts a cash balance of $900 billion at the end of June.