Federal Register #2026-21069

Treasury updates auction rules for marketable book-entry securities

The Department of the Treasury’s Fiscal Service issued a final rule updating auction requirements for marketable Treasury securities. - Government buyer: U.S. Department of the Treasury, Fiscal Service. No further sub-agency or office is identified. - Action type: Regulatory update, not a request to purchase products or services. - Scope: Amends the Uniform Offering Circular for the sale and issuance of marketable book-entry Treasury bills, notes, and bonds. - Key changes: Removes outdated references and updates definitions and terminology to reflect current Treasury auction practices. - Notable requirement: Submitters must provide each noncompetitive customer’s name and bid amount before an auction closes; submitting only a combined summary bid amount is no longer allowed. - Implementation: Changes to customer-bid and auction-results provisions take effect with the first auction using Treasury’s upgraded auction system. Other amendments take effect under the rule’s effective-date provisions. - Vendors and line items: No OEMs, vendors, products, or services are identified.

Description

The Department of the Treasury is issuing final amendments to the Uniform Offering Circular governing the sale and issuance of marketable book-entry Treasury bills, notes, and bonds. The amendments update outdated references and align terminology with current Treasury auction practices. They also require submitters to provide each noncompetitive customer’s name and bid amount before the noncompetitive auction closes, rather than submitting a summary bid amount. Changes to 31 CFR 356.14 and 356.23 apply beginning with the first auction conducted using Treasury’s upgraded auction system; other changes apply on the effective date.

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