31 CFR § 340.8

31 CFR · Money and Finance: Treasury

§ 340.8 — Acceptance of bids.

31 CFR § 340.8

TitleTitle 31: Money and Finance: Treasury PartPart 340: Regulations Governing the Sale of Treasury Bonds Through Competitive Bidding

SourceeCFR (current through Mar 30, 2026)

This text of 31 C.F.R. § 340.8 (Acceptance of bids.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

31 C.F.R. § 340.8 (2026).

Text

§ 340.8 Acceptance of bids.

(a)Opening of bids. Bids will be opened at the time and place specified in the public notice.

(b)Method of determining accepted bids. The lowest basis cost of money 2 computed from the date of the bonds to the date of maturity will be used in determining successful bids. 2 In cases where bidders are required to specify the coupon rate, the lowest basis cost of money will be determined by reference to a specially prepared table of bond yields, a copy of which will be made available to all prospective bidders upon written request to the Federal Reserve Bank of New York, or the Bureau of the Fiscal Service, Treasury Department, Washington, DC 20220. Straightline interpolation will be applied if necessary.

(c)Acceptance of successful bid. The Secretary of the

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§ 340.8 Acceptance of bids.

(a) Opening of bids. Bids will be opened at the time and place specified in the public notice.

(b) Method of determining accepted bids. The lowest basis cost of money ² computed from the date of the bonds to the date of maturity will be used in determining successful bids.

² In cases where bidders are required to specify the coupon rate, the lowest basis cost of money will be determined by reference to a specially prepared table of bond yields, a copy of which will be made available to all prospective bidders upon written request to the Federal Reserve Bank of New York, or the Bureau of the Fiscal Service, Treasury Department, Washington, DC 20220. Straightline interpolation will be applied if necessary.

(c) Acceptance of successful bid. The Secretary of the Treasury, or his representative, will notify any successful bidder of acceptance in the manner and form specified in the public notice.