The U.S. Treasury is preparing for a large-scale debt issuance next week, with plans to auction off 2-year notes worth $48 billion next Tuesday, as announced on Thursday. The debt issuance will settle on October 2, 2023, and reach maturity on September 30, 2025.
This upcoming auction also involves participation from the Federal Reserve banks. They will be placing bids for their own accounts in addition to the public offering amount. Currently, the Federal Reserve holds $22.482 billion in maturing securities under its possession.
Investors interested in noncompetitive tenders of these 2-year notes can participate with minimum denominations of $100. However, these tenders must be submitted by no later than 12:00 PM Eastern Time on Tuesday. On the other hand, competitive tenders are also available in minimum denominations of $100 but must be received by 1:00 PM Eastern Time.
The securities being auctioned bear the CUSIP number 91282CJB8, as provided by the U.S. Treasury Department. This identifier is essential for investors and financial institutions tracking and managing such securities.
This move is part of the Treasury's regular efforts to manage the government's funding needs and ensure smooth functioning of the U.S. government's short-term financing operations.
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