The Treasury Department will conduct a live small-value contingency cash management bill auction on April 7.

The U.S. Treasury Building.Image: Thinkstock

Treasury set the following conditions for this live auction:

  • Bids shall be submitted by telephone to Treasury's fiscal agent the Federal Reserve Bank of New York (FRBNY)
  • Only primary dealers, as designated by FRBNY, may submit bids.
  • Each primary dealer can submit up to 5 competitive bids.
  • The net long position (NLP) reporting will be required.
  • Each competitive bid must be at a separate discount rate.
  • Customer bids will not be accepted.
  • Noncompetitive tenders, including FIMA tenders, will not be accepted.
  • SOMA will be accepted.

An announcement of the size will be made Friday morning at 9:30 a.m., Eastern Time.

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