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Treasury Plans Floating-Rate Notes

Government is also working on being able to accept negative-rate bids on T-bills.

By Meera Louis and Cheyenne Hopkins, Bloomberg | Updated on August 01, 2012

The U.S. Treasury Department said today it is developing a floating-rate note program that could be operational in a year or more, while it is preparing for possible negative-rate bidding.

The Treasury also plans to sell $72 billion in notes and bonds in next week’s refunding, it said in a statement in Washington. The Treasury intends to auction $32 billion in 3-year notes on Aug. 7, $24 billion in 10-year notes on Aug. 8 and $16 billion in 30-year bonds on Aug. 9.

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