The U.S. Treasury Department said Monday that the federal government expected to borrow 288 billion U.S. dollars from the market to fund its operation in the fourth quarter of this year.

"During the October-December 2012 quarter, Treasury expects to issue 288 billion dollars in net marketable debt, [Hong Kong Company Formation]assuming an end- of-December cash balance of 60 billion dollars. This borrowing estimate is 29 billion dollars lower than announced in July 2012," the Treasury said in a statement.

The Treasury said during the July-September quarter, it issued 264 billion dollars in net marketable debt, and ended the quarter with a cash balance of 85 billion dollars.

The Treasury also said that during the January-March 2013 quarter, it would issue 342 billion dollars in net marketable debt, assuming an end-of-March cash balance of 30 billion dollars.

The budget deficit of the U.S. federal government topped around 1.1 trillion U.S. dollars in the 2012 fiscal year ending in September, about 207 billion less than the 2011 fiscal year. [Offshore Company Incorporation]But it was the fourth consecutive fiscal year that the U.S. federal government's budget deficit surpassed one trillion dollars.

Due to financial crisis and economic recession, borrowings of the U.S. government increased dramatically over the past three years. The U.S. federal government ran a record budget deficit of 1.41 trillion dollars in the 2009 fiscal year and a 1.29-trillion- dollar imbalance in the 2010 fiscal year. [HongKong Richful  - Hong Kong Company Formation, Offshore Company Incorporation]