WASHINGTON, Nov 15 (Reuters) - The U.S. Treasury on Wednesday announced the results of its small-value debt buyback operation.
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 $150 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: here (Washington newsroom)