WASHINGTON, D.C. — The U.S. Treasury Department will at least double the size of its longer-term bond buyback operations to $4 billion or more beginning September 9, expanding support for liquidity in a critical segment of the government debt market.
The increase applies to nominal coupon securities maturing in 10 to 20 years and 20 to 30 years.
Individual operations currently have a maximum size of $2 billion. Under the revised framework, each operation will increase to at least $4 billion.
The larger buybacks will continue through November 4, covering the remainder of the current refunding quarter.
Treasury attributed the change to sustained participation in longer-dated buyback operations, including what it described as a significant volume of high-quality offers from market participants.
The department will provide additional information about future buyback sizes at its next Quarterly Refunding on November 4.
An updated tentative buyback schedule will be released separately.
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