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Treasury Buybacks

The U.S. Treasury periodically buys back unmatured marketable securities. Buybacks do not always occur on a regular pattern. With buybacks:

  • Treasury has more flexibility in managing the public debt.
  • Treasury can continue offering regular new securities in appropriate size and maturities. There is more control over the maturity structure of the outstanding debt.
  • Treasury can absorb extra cash whenever revenues are greater than the immediate spending need, making them a good cash management tool.
  • Treasury may be able to lower the government's interest expense by buying higher-yield debt and replacing it with lower-yield debt.

For rules on buybacks, see 31 CFR Part 375.

For more specific information see buyback announcements, buyback results, and the historical 2000-2002 buyback summary information.