BANKING & FINANCE - Aug. 5, 1993

U.S. Treasury to Borrow $38.5 Billion Next Week: The quarterly debt financing is to include funds to restart the stalled savings and loan cleanup. The government plans to sell $16.5 billion in 3-year notes on Tuesday, $11 billion in 10-year notes on Wednesday and $11 billion in 30-year bonds on Thursday. The three-day total would surpass the previous record of $38 billion, set in November, 1991, and would be used to raise about $11.8 billion in cash and redeem $26.7 billion in maturing securities. Assuming Congress acts on S&L; cleanup funds, an additional $20 billion is expected to be needed during this quarter, which will be raised through regular weekly sales of short-term bills and notes.