1. LawStack
  2. Title 31 - Money and Finance: Treasury
  3. Subtitle B - Regulations Relating to Money and Finance
  4. Chapter II - Fiscal Service, Department of the Treasury
  5. Subchapter A - Bureau of the Fiscal Service
  6. Part 340 - Regulations Governing the Sale of Treasury Bonds Through Competitive Bidding
  7. 31 CFR § 340.8
31 CFR § 340.8
Acceptance of bids
July 31, 2023
CFR
Editorial Note on Subchapter A of Chapter II

Editorial Note:

Nomenclature changes to subchapter A appear at 78 FR 60697, Oct. 2, 2013.

§ 340.8 Acceptance of bids.

(a) Opening of bids. Bids will be opened at the time and place specified in the public notice.

(b) Method of determining accepted bids. The lowest basis cost of money[2] computed from the date of the bonds to the date of maturity will be used in determining successful bids.

(c) Acceptance of successful bid. The Secretary of the Treasury, or his representative, will notify any successful bidder of acceptance in the manner and form specified in the public notice.

Footnotes - 340.8

[2] In cases where bidders are required to specify the coupon rate, the lowest basis cost of money will be determined by reference to a specially prepared table of bond yields, a copy of which will be made available to all prospective bidders upon written request to the Federal Reserve Bank of New York, or the Bureau of the Fiscal Service, Treasury Department, Washington, DC 20220. Straightline interpolation will be applied if necessary.

Previous
§ 340.7 Deposits—retention—return
Next
§ 340.9 Bids—revocations—rejections—postponements—reoffers

Tried the LawStack mobile app?

Join thousands and try LawStack mobile for FREE today.

  • Carry the law offline, wherever you go.
  • Download CFR, USC, rules, and state law to your mobile device.

Designed and built by Tekk Innovations LLC, the makers of the LawStack iPhone app or Android app.

© 2020 Tekk Innovations LLC