U.S. Treasury to keep coupon auction sizes steady
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WASHINGTON (Reuters) - The U.S. Treasury said on Wednesday it will hold steady the size of coupon auctions in the upcoming quarter and plans to conduct a small-value test buyback operation.
The department plans to offer $62 billion in Treasury securities next week, raising approximately $3.5 billion in new cash. It has conducted tests of its buyback capability since 2014 and said details of the upcoming operation would be released at a later date.
The Treasury's acting assistant secretary for financial markets, Daleep Singh, said the buyback auction would test the department's IT infrastructure and did not signal any pending policy changes.
On future coupon sizes, Singh said in a statement the department "plans to address changes in any seasonal borrowing needs over the next quarter through changes in regular bill auction sizes and/or cash management bills."
(Reporting by Jason Lange; Editing by Paul Simao)
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