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MNI BRIEF: U.S. Treasury Seeks Dealer Input On Buybacks


The U.S. Treasury asked primary dealers Friday whether it should make debt repurchases to support market liquidity and for maturity management.

Treasury asked in the regular quarterly refunding process for dealer views on potentially implementing such a program, including how much to buy and potential trade-offs. The Treasury Borrowing Advisory Committee, which has provided analysis earlier this year and in 2015, has said buybacks could provide liquidity support and cash and maturity management.

Buybacks were last conducted in 2000 as a fix to anemic liquidity that has recently faded to historic lows, in part due to regulatory constraints limiting dealer intermediation. (See: MNI: Fed To Press Ahead With QT Amid Liquidity Concerns)

MNI Washington Bureau | +1 202-371-2121 |
MNI Washington Bureau | +1 202-371-2121 |

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