BANKING & FINANCE - Feb. 1, 1994

Treasury Expected to Borrow $45 Billion: The Treasury will announce Wednesday how it will sell the debt for the January-March quarter, including the makeup of refinancing auctions to sell three- and 10-year notes and 30-year bonds. Borrowing projection for the current quarter, which assumed a $20-billion cash balance on March 31, is $15 billion to $20 billion less than the Treasury’s Nov. 1 estimate. The earlier figure assumed a $35-billion cash balance on March 31. The Treasury estimated that for the April-June quarter it will borrow $15 billion to $20 billion.