The Fiscal DeskFiscal policy. Monetary plumbing. Public data.
Independent research desk
Frameworks by James Lavish / Independent & unaffiliatedData as of Tue 22 Sept 2026, 11:55 am ET

Treasury supply

The buyback desk

What Treasury offered to buy, what investors offered to sell, and what was actually accepted.

Latest operations

17 Sept · 7Y to 10Ycap $4.0 Boffered $9.74 Baccepted $2.39 B2.4× oversubscribed15 Sept · 10Y to 30Ycap $0.5 Boffered $2.09 Baccepted $0.50 B4.2× oversubscribed10 Sept · 10Y to 20Ycap $6.0 Boffered $10.49 Baccepted $5.19 B1.8× oversubscribed9 Sept · 1Mo to 2Ycap $12.5 Boffered $28.03 Baccepted $12.50 B2.2× oversubscribed3 Sept · 1Mo to 2Ycap $12.5 Boffered $28.27 Baccepted $12.50 B2.3× oversubscribed25 Aug · 5Y to 7Ycap $4.0 Boffered $8.40 Baccepted $1.19 B2.1× oversubscribed20 Aug · 3Y to 5Ycap $4.0 Boffered $10.16 Baccepted $1.86 B2.5× oversubscribed18 Aug · 20Y to 30Ycap $2.0 Boffered $19.87 Baccepted $2.00 B9.9× oversubscribed11 Aug · 10Y to 20Ycap $2.0 Boffered $7.40 Baccepted $2.00 B3.7× oversubscribed6 Aug · 1Mo to 2Ycap $4.0 Boffered $35.79 Baccepted $4.00 B8.9× oversubscribed28 Jul · 20Y to 30Ycap $2.0 Boffered $21.94 Baccepted $2.00 B11.0× oversubscribed23 Jul · 10Y to 20Ycap $2.0 Boffered $16.30 Baccepted $2.00 B8.2× oversubscribed22 Jul · 1Y to 10Ycap $0.8 Boffered $3.19 Baccepted $0.41 B4.3× oversubscribed16 Jul · 20Y to 30Ycap $2.0 Boffered $30.54 Baccepted $2.00 B15.3× oversubscribed9 Jul · 2Y to 3Ycap $4.0 Boffered $12.46 Baccepted $2.30 B3.1× oversubscribed1 Jul · 10Y to 20Ycap $2.0 Boffered $15.72 Baccepted $2.00 B7.9× oversubscribed
Dashed outline = cap · light bar = offered · solid bar = accepted.

Scheduled

DateBucketTypeCap
24 Sept 2026 01:40 PM20Y to 30YLiquidity Support$2.0 B
29 Sept 2026 01:40 PM1Y to 10YLiquidity Support$0.8 B
1 Oct 2026 01:40 PM10Y to 20YLiquidity Support$2.0 B
6 Oct 2026 01:40 PM2Y to 3YLiquidity Support$4.0 B
8 Oct 2026 01:40 PM20Y to 30YLiquidity Support$2.0 B
15 Oct 2026 01:40 PM10Y to 20YLiquidity Support$2.0 B
21 Oct 2026 01:40 PM1Y to 10YLiquidity Support$0.8 B
27 Oct 2026 01:40 PM20Y to 30YLiquidity Support$2.0 B
4 Nov 2026 01:40 PM10Y to 20YLiquidity Support$2.0 B
5 Nov 2026 01:40 PM1Mo to 2YLiquidity Support$4.0 B

All operations

Buyback operations
DateBucketTypeCapOfferedAcceptedOversubscribedCap takenSource
17 Sept 20267Y to 10YLiquidity Support$4.0 B$9.74 B$2.39 B2.4×59.6 %results XML
15 Sept 202610Y to 30YLiquidity Support$0.5 B$2.09 B$0.50 B4.2×100.0 %results XML
10 Sept 202610Y to 20YLiquidity Support$6.0 B$10.49 B$5.19 B1.8×86.4 %results XML
9 Sept 20261Mo to 2YCash Management$12.5 B$28.03 B$12.50 B2.2×100.0 %results XML
3 Sept 20261Mo to 2YCash Management$12.5 B$28.27 B$12.50 B2.3×100.0 %results XML
25 Aug 20265Y to 7YLiquidity Support$4.0 B$8.40 B$1.19 B2.1×29.8 %results XML
20 Aug 20263Y to 5YLiquidity Support$4.0 B$10.16 B$1.86 B2.5×46.5 %results XML
18 Aug 202620Y to 30YLiquidity Support$2.0 B$19.87 B$2.00 B9.9×100.0 %results XML
11 Aug 202610Y to 20YLiquidity Support$2.0 B$7.40 B$2.00 B3.7×100.0 %results XML
6 Aug 20261Mo to 2YLiquidity Support$4.0 B$35.79 B$4.00 B8.9×100.0 %results XML
28 Jul 202620Y to 30YLiquidity Support$2.0 B$21.94 B$2.00 B11.0×100.0 %results XML
23 Jul 202610Y to 20YLiquidity Support$2.0 B$16.30 B$2.00 B8.2×100.0 %results XML
22 Jul 20261Y to 10YLiquidity Support$0.8 B$3.19 B$0.41 B4.3×54.0 %results XML
16 Jul 202620Y to 30YLiquidity Support$2.0 B$30.54 B$2.00 B15.3×100.0 %results XML
9 Jul 20262Y to 3YLiquidity Support$4.0 B$12.46 B$2.30 B3.1×57.4 %results XML
1 Jul 202610Y to 20YLiquidity Support$2.0 B$15.72 B$2.00 B7.9×100.0 %results XML
25 Jun 202620Y to 30YLiquidity Support$2.0 B$21.32 B$2.00 B10.7×100.0 %results XML
24 Jun 20261Y to 10YLiquidity Support$0.8 B$4.55 B$0.75 B6.1×100.0 %results XML
16 Jun 20267Y to 10YLiquidity Support$4.0 B$5.07 B$0.57 B1.3×14.2 %results XML
11 Jun 20261Mo to 2YCash Management$12.5 B$27.90 B$12.08 B2.2×96.6 %results XML
9 Jun 202610Y to 20YLiquidity Support$2.0 B$18.39 B$2.00 B9.2×100.0 %results XML
4 Jun 20261Mo to 2YCash Management$12.5 B$41.66 B$12.50 B3.3×100.0 %results XML
3 Jun 202620Y to 30YLiquidity Support$2.0 B$21.26 B$2.00 B10.6×100.0 %results XML
28 May 202610Y to 30YLiquidity Support$0.5 B$0.78 B$0.09 B1.6×18.2 %results XML
21 May 20265Y to 7YLiquidity Support$4.0 B$3.75 B$0.30 B0.9×7.5 %results XML
19 May 20263Y to 5YLiquidity Support$4.0 B$9.19 B$1.67 B2.3×41.8 %results XML
13 May 20261Y to 10YLiquidity Support$0.8 B$2.34 B$0.74 B3.1×98.0 %results XML
7 May 20261Mo to 2YLiquidity Support$4.0 B$43.88 B$4.00 B11.0×100.0 %results XML
6 May 202610Y to 20YLiquidity Support$2.0 B$19.69 B$2.00 B9.8×100.0 %results XML
28 Apr 202620Y to 30YLiquidity Support$2.0 B$35.56 B$2.00 B17.8×100.0 %results XML
23 Apr 20262Y to 3YLiquidity Support$4.0 B$4.75 B$0.36 B1.2×9.0 %results XML
22 Apr 20261Mo to 2YCash Management$15.0 B$37.84 B$15.00 B2.5×100.0 %results XML
16 Apr 20261Mo to 2YCash Management$15.0 B$40.03 B$15.00 B2.7×100.0 %results XML
15 Apr 202610Y to 20YLiquidity Support$2.0 B$18.06 B$2.00 B9.0×100.0 %results XML
9 Apr 202620Y to 30YLiquidity Support$2.0 B$36.47 B$2.00 B18.2×100.0 %results XML
1 Apr 20261Mo to 2YCash Management$15.0 B$43.11 B$15.00 B2.9×100.0 %results XML
26 Mar 202610Y to 20YLiquidity Support$2.0 B$36.05 B$2.00 B18.0×100.0 %results XML
25 Mar 202610Y to 30YLiquidity Support$0.5 B$0.76 B$0.11 B1.5×22.0 %results XML
19 Mar 202620Y to 30YLiquidity Support$2.0 B$36.00 B$0.21 B18.0×10.2 %results XML
17 Mar 20261Mo to 2YCash Management$15.0 B$33.52 B$15.00 B2.2×100.0 %results XML
12 Mar 20267Y to 10YLiquidity Support$4.0 B$3.39 B$0.06 B0.8×1.4 %results XML
10 Mar 20261Mo to 2YCash Management$15.0 B$40.99 B$14.70 B2.7×98.0 %results XML
5 Mar 202610Y to 20YLiquidity Support$2.0 B$17.84 B$2.00 B8.9×100.0 %results XML
4 Mar 20263Y to 5YLiquidity Support$4.0 B$10.41 B$2.46 B2.6×61.6 %results XML
2 Mar 20261Mo to 2YLiquidity Support$0.0 B$0.09 B$0.03 B2.9×100.0 %results XML
25 Feb 20261Y to 10YLiquidity Support$0.8 B$2.29 B$0.75 B3.0×99.3 %results XML
24 Feb 202620Y to 30YLiquidity Support$2.0 B$24.96 B$2.00 B12.5×100.0 %results XML
19 Feb 20265Y to 7YLiquidity Support$4.0 B$6.81 B$1.56 B1.7×39.0 %results XML
10 Feb 202610Y to 20YLiquidity Support$2.0 B$20.85 B$2.00 B10.4×100.0 %results XML
5 Feb 202620Y to 30YLiquidity Support$2.0 B$25.54 B$2.00 B12.8×100.0 %results XML
4 Feb 20261Mo to 2YLiquidity Support$4.0 B$69.00 B$4.00 B17.3×100.0 %results XML
27 Jan 20261Y to 10YLiquidity Support$0.8 B$3.32 B$0.74 B4.4×98.0 %results XML
22 Jan 202610Y to 20YLiquidity Support$2.0 B$22.89 B$2.00 B11.4×100.0 %results XML
21 Jan 20262Y to 3YLiquidity Support$4.0 B$8.75 B$2.79 B2.2×69.6 %results XML
16 Jan 20267Y to 10YLiquidity Support$4.0 B$5.94 B$0.21 B1.5×5.2 %results XML
14 Jan 202620Y to 30YLiquidity Support$2.0 B$25.10 B$2.00 B12.6×100.0 %results XML
8 Jan 202610Y to 20YLiquidity Support$2.0 B$28.65 B$2.00 B14.3×100.0 %results XML
23 Dec 202510Y to 30YLiquidity Support$0.5 B$1.19 B$0.11 B2.4×21.6 %results XML
18 Dec 202520Y to 30YLiquidity Support$2.0 B$24.63 B$2.00 B12.3×100.0 %results XML
17 Dec 20253Y to 5YLiquidity Support$4.0 B$11.94 B$3.71 B3.0×92.8 %results XML
11 Dec 20251Mo to 2YCash Management$12.5 B$33.62 B$12.50 B2.7×100.0 %results XML
4 Dec 202510Y to 20YLiquidity Support$2.0 B$28.41 B$2.00 B14.2×100.0 %results XML
3 Dec 20251Mo to 2YCash Management$12.5 B$34.61 B$12.50 B2.8×100.0 %results XML
25 Nov 20251Y to 10YLiquidity Support$0.8 B$4.95 B$0.75 B6.6×100.0 %results XML
20 Nov 202520Y to 30YLiquidity Support$2.0 B$25.44 B$0.79 B12.7×39.2 %results XML
18 Nov 20255Y to 7YLiquidity Support$4.0 B$8.44 B$3.39 B2.1×84.7 %results XML
12 Nov 202510Y to 30YLiquidity Support$0.5 B$1.39 B$0.14 B2.8×28.4 %results XML
5 Nov 202510Y to 20YLiquidity Support$2.0 B$24.09 B$2.00 B12.0×100.0 %results XML
28 Oct 202520Y to 30YLiquidity Support$2.0 B$25.42 B$2.00 B12.7×100.0 %results XML
22 Oct 20252Y to 3YLiquidity Support$4.0 B$8.60 B$1.90 B2.1×47.6 %results XML
16 Oct 20257Y to 10YLiquidity Support$4.0 B$10.44 B$0.19 B2.6×4.8 %results XML
7 Oct 202510Y to 20YLiquidity Support$2.0 B$29.97 B$2.00 B15.0×100.0 %results XML
2 Oct 202520Y to 30YLiquidity Support$2.0 B$21.67 B$2.00 B10.8×100.0 %results XML
1 Oct 20253Y to 5YLiquidity Support$4.0 B$11.80 B$2.90 B3.0×72.4 %results XML
24 Sept 20251Y to 10YLiquidity Support$0.8 B$5.78 B$0.75 B7.7×100.0 %results XML
18 Sept 202510Y to 20YLiquidity Support$2.0 B$23.98 B$2.00 B12.0×100.0 %results XML
10 Sept 202520Y to 30YLiquidity Support$2.0 B$20.88 B$2.00 B10.4×100.0 %results XML
3 Sept 202510Y to 20YLiquidity Support$2.0 B$23.02 B$2.00 B11.5×100.0 %results XML
26 Aug 20255Y to 7YLiquidity Support$4.0 B$6.67 B$1.40 B1.7×35.0 %results XML
21 Aug 202520Y to 30YLiquidity Support$2.0 B$19.45 B$2.00 B9.7×100.0 %results XML
19 Aug 20251Mo to 2YLiquidity Support$4.0 B$28.70 B$4.00 B7.2×100.0 %results XML
13 Aug 20251Y to 10YLiquidity Support$0.8 B$6.51 B$0.75 B8.7×100.0 %results XML
6 Aug 20257.5Y to 30YLiquidity Support$0.5 B$1.63 B$0.50 B3.3×100.0 %results XML
31 Jul 202510Y to 20YLiquidity Support$2.0 B$19.68 B$2.00 B9.8×100.0 %results XML
23 Jul 20253Y to 5YLiquidity Support$4.0 B$14.79 B$4.00 B3.7×100.0 %results XML
16 Jul 20251Y to 7.5YLiquidity Support$0.5 B$2.53 B$0.50 B5.0×100.0 %results XML
10 Jul 20255Y to 7YLiquidity Support$4.0 B$3.92 B$1.25 B1.0×31.2 %results XML
2 Jul 202520Y to 30YLiquidity Support$2.0 B$18.74 B$2.00 B9.4×100.0 %results XML
25 Jun 20257.5Y to 30YLiquidity Support$0.5 B$2.01 B$0.50 B4.0×100.0 %results XML
17 Jun 20257Y to 10YLiquidity Support$4.0 B$3.96 B$1.07 B1.0×26.6 %results XML
12 Jun 20252Y to 3YLiquidity Support$4.0 B$7.48 B$1.55 B1.9×38.6 %results XML
10 Jun 20251Mo to 2YCash Management$10.0 B$18.11 B$10.00 B1.8×100.0 %results XML
4 Jun 202510Y to 20YLiquidity Support$2.0 B$22.74 B$2.00 B11.4×100.0 %results XML
3 Jun 20251Mo to 2YCash Management$10.0 B$22.87 B$10.00 B2.3×100.0 %results XML
29 May 202520Y to 30YLiquidity Support$2.0 B$17.87 B$2.00 B8.9×100.0 %results XML
21 May 20251Y to 7.5YLiquidity Support$0.5 B$2.89 B$0.50 B5.8×100.0 %results XML
15 May 20251Mo to 2YLiquidity Support$4.0 B$30.02 B$4.00 B7.5×100.0 %results XML
6 May 202510Y to 20YLiquidity Support$2.0 B$22.18 B$2.00 B11.1×100.0 %results XML
1 May 20257.5Y to 30YLiquidity Support$0.5 B$0.89 B$0.18 B1.8×35.8 %results XML
23 Apr 20251Mo to 2YCash Management$8.5 B$12.17 B$2.94 B1.4×34.6 %results XML
22 Apr 20253Y to 5YLiquidity Support$4.0 B$14.01 B$4.00 B3.5×100.0 %results XML
16 Apr 20251Mo to 2YCash Management$8.5 B$16.03 B$8.50 B1.9×100.0 %results XML
15 Apr 20255Y to 7YLiquidity Support$4.0 B$7.32 B$0.44 B1.8×11.1 %results XML
10 Apr 20251Mo to 2YCash Management$8.5 B$18.17 B$8.50 B2.1×100.0 %results XML
8 Apr 20251Y to 7.5YLiquidity Support$0.5 B$3.25 B$0.50 B6.5×100.0 %results XML
3 Apr 20251Mo to 2YCash Management$8.5 B$23.82 B$8.50 B2.8×100.0 %results XML
2 Apr 202520Y to 30YLiquidity Support$2.0 B$12.83 B$2.00 B6.4×100.0 %results XML
27 Mar 20251Mo to 2YCash Management$8.5 B$23.02 B$8.50 B2.7×100.0 %results XML
26 Mar 20257.5Y to 30YLiquidity Support$0.5 B$2.03 B$0.41 B4.1×81.4 %results XML
20 Mar 20251Mo to 2YCash Management$8.5 B$32.91 B$8.50 B3.9×100.0 %results XML
18 Mar 20257Y to 10YLiquidity Support$4.0 B$4.90 B$0.99 B1.2×24.6 %results XML
12 Mar 20251Mo to 2YCash Management$8.5 B$39.17 B$8.50 B4.6×100.0 %results XML
11 Mar 20252Y to 3YLiquidity Support$4.0 B$10.67 B$4.00 B2.7×100.0 %results XML
5 Mar 202510Y to 20YLiquidity Support$2.0 B$18.24 B$2.00 B9.1×100.0 %results XML
26 Feb 202520Y to 30YLiquidity Support$2.0 B$8.35 B$2.00 B4.2×100.0 %results XML
20 Feb 20251Y to 7.5YLiquidity Support$0.5 B$4.03 B$0.50 B8.1×100.0 %results XML
12 Feb 20251Mo to 2YLiquidity Support$4.0 B$27.78 B$4.00 B6.9×100.0 %results XML
6 Feb 202510Y to 20YLiquidity Support$2.0 B$20.36 B$2.00 B10.2×100.0 %results XML
28 Jan 20257.5Y to 30YLiquidity Support$0.5 B$1.62 B$0.50 B3.2×100.0 %results XML
22 Jan 20253Y to 5YLiquidity Support$4.0 B$14.07 B$4.00 B3.5×100.0 %results XML
15 Jan 20255Y to 7YLiquidity Support$4.0 B$7.77 B$2.19 B1.9×54.8 %results XML
9 Jan 20251Y to 7.5YLiquidity Support$0.5 B$2.48 B$0.50 B5.0×100.0 %results XML
7 Jan 202520Y to 30YLiquidity Support$2.0 B$10.30 B$2.00 B5.2×100.0 %results XML
19 Dec 20241Mo to 2YCash Management$7.5 B$15.34 B$3.73 B2.0×49.7 %results XML
17 Dec 20247.5Y to 30YLiquidity Support$0.5 B$1.49 B$0.50 B3.0×100.0 %results XML
10 Dec 20241Mo to 2YCash Management$7.5 B$21.68 B$7.50 B2.9×100.0 %results XML
9 Dec 20247Y to 10YLiquidity Support$4.0 B$3.46 B$0.20 B0.9×4.9 %results XML
5 Dec 20242Y to 3YLiquidity Support$4.0 B$7.37 B$2.27 B1.8×56.7 %results XML
4 Dec 20241Mo to 2YCash Management$7.5 B$21.68 B$7.50 B2.9×100.0 %results XML
25 Nov 202410Y to 20YLiquidity Support$2.0 B$6.78 B$2.00 B3.4×100.0 %results XML
20 Nov 202420Y to 30YLiquidity Support$2.0 B$5.07 B$2.00 B2.5×100.0 %results XML
13 Nov 20241Mo to 2YLiquidity Support$4.0 B$31.57 B$4.00 B7.9×100.0 %results XML
6 Nov 20241Y to 7.5YLiquidity Support$0.5 B$0.85 B$0.17 B1.7×34.0 %results XML
31 Oct 202410Y to 20YLiquidity Support$2.0 B$6.43 B$2.00 B3.2×100.0 %results XML
23 Oct 20247.5Y to 30YLiquidity Support$0.5 B$0.98 B$0.32 B1.9×64.6 %results XML
16 Oct 20243Y to 5YLiquidity Support$4.0 B$10.26 B$4.00 B2.6×100.0 %results XML
10 Oct 20245Y to 7YLiquidity Support$5.0 B$4.96 B$2.47 B1.0×49.7 %results XML
2 Oct 20241Y to 7.5YLiquidity Support$0.5 B$1.38 B$0.24 B2.8×47.0 %results XML
25 Sept 20241Mo to 2YCash Management$5.0 B$13.01 B$5.00 B2.6×100.0 %results XML
24 Sept 202420Y to 30YLiquidity Support$2.0 B$9.70 B$2.00 B4.8×100.0 %results XML
19 Sept 20241Mo to 2YCash Management$5.0 B$26.24 B$5.00 B5.3×100.0 %results XML
17 Sept 20247.5Y to 30YLiquidity Support$0.5 B$0.88 B$0.15 B1.8×30.6 %results XML
12 Sept 20241Mo to 2YCash Management$5.0 B$22.46 B$5.00 B4.5×100.0 %results XML
10 Sept 20247Y to 10YLiquidity Support$4.0 B$3.07 B$0.45 B0.8×11.2 %results XML
5 Sept 20241Mo to 2YCash Management$5.0 B$13.15 B$5.00 B2.6×100.0 %results XML
4 Sept 20242Y to 3YLiquidity Support$4.0 B$8.24 B$2.30 B2.1×57.4 %results XML
28 Aug 202410Y to 20YLiquidity Support$2.0 B$6.59 B$2.00 B3.3×100.0 %results XML
21 Aug 20241Y to 7.5YLiquidity Support$0.5 B$0.50 B—1.0×—record
21 Aug 20241Y to 7.5YLiquidity Support$0.5 B$2.28 B$0.35 B4.6×70.2 %results XML
15 Aug 202420Y to 30YLiquidity Support$2.0 B$6.45 B$2.00 B3.2×100.0 %results XML
7 Aug 20241Mo to 2YLiquidity Support$4.0 B$36.96 B$4.00 B9.2×100.0 %results XML
24 Jul 20247Y to 10YLiquidity Support$2.0 B$3.71 B$0.00 B1.9×0.0 %results XML
18 Jul 20243Y to 5YLiquidity Support$2.0 B$4.76 B$0.81 B2.4×40.4 %results XML
17 Jul 20243Y to 5YLiquidity Support$2.0 B$2.00 B—1.0×—record
10 Jul 20247.5Y to 30YLiquidity Support$0.5 B$0.73 B$0.05 B1.5×10.6 %results XML
2 Jul 202410Y to 20YLiquidity Support$2.0 B$7.24 B$2.00 B3.6×100.0 %results XML
26 Jun 20242Y to 3YLiquidity Support$2.0 B$8.72 B$2.00 B4.4×100.0 %results XML
20 Jun 20245Y to 7YLiquidity Support$2.0 B$6.34 B$1.86 B3.2×93.2 %results XML
11 Jun 20241Y to 7.5YLiquidity Support$0.5 B$4.01 B$0.50 B8.0×100.0 %results XML
5 Jun 202420Y to 30YLiquidity Support$2.0 B$3.85 B$2.00 B1.9×100.0 %results XML
29 May 20241Mo to 2YLiquidity Support$2.0 B$16.52 B$2.00 B8.3×100.0 %results XML
17 Apr 20247.5Y to 30YSmall Value$0.2 B$1.05 B$0.20 B5.3×100.0 %results XML
10 Apr 20241Mo to 2YSmall Value$0.2 B$2.38 B$0.20 B11.9×100.0 %results XML
3 Apr 202420Y to 30YSmall Value$0.2 B$0.88 B$0.20 B4.4×100.0 %results XML
30 Mar 2023nullnull—$0.09 B$0.02 B——record
30 Mar 2022nullnull—$0.09 B$0.03 B——record
7 Apr 2021nullnull—$0.11 B$0.03 B——record
25 Aug 2020nullnull—$0.16 B$0.03 B——record
20 Nov 2019nullnull—$0.01 B$0.03 B——record
22 May 2019nullnull—$0.15 B$0.03 B——record

Times shown are the operation start (1:40 pm ET for long-end liquidity-support operations). JSON

Buybacks · The Fiscal Desk