BANKING & FINANCE - May 4, 1993

Treasury Expects to Borrow $37 Billion: The Treasury Department estimates that it will need to borrow $37 billion in the April-June quarter. It will announce on Wednesday how it will sell the debt, including the makeup of refinancing auctions next week to sell three-year and 10-year notes and 30-year bonds. The projection for the current quarter, which assumes a $35-billion cash balance on June 30, is somewhat higher than the $25 billion to $30 billion estimated on Feb. 1. The Treasury said it now expects to collect a smaller amount in income taxes from individuals than anticipated.