WASHINGTON, April 19 The U.S. Treasury on
Wednesday announced the results of its small-value debt buyback
Treasury said last week it would conduct the operation to
ensure the readiness of its buyback infrastructure and that the
operation was not meant to signal any policy changes regarding
Treasury's use of buybacks more broadly.
Treasury said $365 million was offered in the operation and
$25 million was accepted.
A buyback occurs when the Treasury redeems outstanding
marketable Treasury securities. In a buyback, the owner of the
security sells it to the U.S. Treasury on a voluntary basis at a
price determined by a competitive auction process.
For details of Wednesday's operation, see:
(Washington economics newsroom; Editing by Chizu Nomiyama)