The Treasury Department said it will raise about $15.488 billion of new cash by auctioning $13 billion five-year notes on Thursday, December 27 and $22 billion two-year notes on Wednesday, December 26. Treasury will refund $19.512 billion with the auction.The five-years are dated December 31 and due December 31, 2012.The two-years are dated December 26 and due December 31, 2009.The Federal Reserve holds $7.155 billion of Treasury notes in the System Open Market Account, which may be refunded.

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