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Treasury: Increasing auction sizes to meet needs

WASHINGTON
Mon Oct 6, 2008 9:08am EDT
A traffic light is pictured beside the Wall Street road sign in the financial district of New York September 19, 2008. REUTERS/Lucas Jackson

WASHINGTON (Reuters) - The Treasury Department on Monday announced it will increase the size of its debt securities auctions to address increased funding needs posed by the $700 billion financial rescue package signed last week.

Treasury said it would boost the volume of auctions of bills and coupon securities, issue cash management bills, and may reintroduce the 3-year note, acting Treasury Undersecretary Anthony Ryan said in a statement.

(Reporting by Mark Felsenthal, Editing by Chizu Nomiyama)


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