August 1, 2007 Treasury Assistant Secretary for Financial Markets Anthony Ryan Washington - We are offering $22.0 billion of Treasury securities to refund approximately $62.6 billion of privately held securities maturing on August 15 and to pay down approximately $40.6 billion. The securities are:
These securities will be auctioned on a yield basis at 1:00 PM EDT on Wednesday, August 8, and Thursday, August 9, respectively. Both auctions will settle on Wednesday, August 15. The balance of our financing requirements will be met with weekly bills, monthly 2-year and 5-year notes, the September 10-year note reopening, and the October 10-year and 5-year TIPS reopenings. Treasury also is likely to issue cash management bills in early September. Debt Subject to the Limit Securities issued during the August quarterly refunding will not be affected by debt limit constraints. All securities auctioned during the current quarterly refunding will settle as normal on August 15, 2007. Cash and Debt Management Modernization As part of ongoing efforts to enhance the efficiency of debt management operations, reduce risks and lower borrowing costs, we are examining ways to enhance our cash and debt management practices. We will also seek to enhance business continuity functions, existing risk management systems, and other activities associated with our operating procedures. Treasury welcomes additional recommendations and comments for enhancing the infrastructure and tools necessary in managing the preeminent government bond market in the world. Other Policy Matters Under Consideration Lowering the Minimum Denomination in Treasury Auctions The minimum purchase amount for Treasury bills, notes, and bonds has been $1,000 since 1998. Please send comments and suggestions on these subjects or others relating to Treasury debt management to debt.management@do.treas.gov. The next quarterly refunding announcement will take place on Wednesday, October 31, 2007. - 30 - |
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