WASHINGTON (Reuters) - The U.S. Treasury said on Wednesday it will hold steady the size of coupon auctions in the upcoming quarter and plans to conduct a small-value test buyback operation.
The department plans to offer $62 billion in Treasury securities next week, raising approximately $3.5 billion in new cash. It has conducted tests of its buyback capability since 2014 and said details of the upcoming operation would be released at a later date.
The Treasury's acting assistant secretary for financial markets, Daleep Singh, said the buyback auction would test the department's IT infrastructure and did not signal any pending policy changes.
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On future coupon sizes, Singh said in a statement the department "plans to address changes in any seasonal borrowing needs over the next quarter through changes in regular bill auction sizes and/or cash management bills."
(Reporting by Jason Lange; Editing by Paul Simao)