WASHINGTON, Aug 6 (Reuters) - The United States will buy back debt in the coming quarter for the first time since 2002 to make sure its computer infrastructure is adequate for any future buyback operations, the U.S. Treasury said on Wednesday.
The buyback does not signal any current need to buy back debt, a Treasury official told journalists in a briefing.
He added, however, that the last time Washington bought back debt was during a period of declining deficits, in order to provide liquidity to segments of the bond market. U.S. deficits have declined quickly over the last year.
The Treasury will conduct tests regularly, the official said on condition of anonymity.
In a statement, Treasury Assistant Secretary Matt Rutherford said the Treasury was holding the level of two- and three-year note issuance steady in the coming quarter.
“Based on current fiscal forecasts, coupon auction sizes will remain steady going forward,” Rutherford said.
Rutherford also said the Treasury was studying how to change its cash management policy to ensure the government can access markets during disruptive events, such as severe storms. (Reporting by Jason Lange; Editing by Paul Simao)