U.S. FEDRegulation
Treasury amends auction rules, requires full customer bid information before noncompetitive close
The Department of the Treasury issued a final rule amending the Uniform Offering Circular for marketable book-entry Treasury bills, notes, and bonds in 31 CFR part 356. The rule, published October 15, 2026, at 91 FR 65456, made technical changes to definitions and removed outdated references, and changed the requirements for submitting noncompetitive customer bids in Treasury auctions.
Key points
- Submitters must provide all customer bid information before the noncompetitive auction close under amended 31 CFR 356.14 and 356.23.Federal Register
- The bid-information changes apply to auctions run on Treasury's upgraded auction system, announced to participants in advance.Federal Register
- Treasury revises the definitions of adjusted value, dated date, index ratio, issue date, and settlement amount in 31 CFR 356.2.Federal Register
- The amendments remove the former CUSIP issuer reference and the reference to bids in paper form.Federal Register