TITLE: U.S. Department of the Treasury Increases Nominal Long-End Liquidity Support Buyback Operation Sizes BODY: On August 19, 2026, the U.S. Department of the Treasury announced an increase in the size of liquidity support buyback operations for longer-dated nominal coupon securities. The department is at least doubling the maximum size of buyback operations, increasing from $2 billion per operation to at least $4 billion per operation for the 10-year to 20-year sector and the 20-year to 30-year sector. The Treasury's decision reflects its commitment to providing greater liquidity support in longer-dated nominal sectors where market participants demonstrate consistent strong sponsorship. The department cited the significant volume of high-quality offers it routinely receives in longer-dated buyback operations as evidence of robust market demand. This expansion aims to enhance liquidity conditions in these key market segments and support the functioning of Treasury markets. The increased buyback operation sizes become effective September 9, 2026, and will remain in effect through November 4, 2026, covering the remainder of the current refunding quarter. The Treasury will provide additional information regarding future buyback sizes at the next Quarterly Refunding, scheduled for November 4, 2026. An updated tentative Treasury buyback schedule will be released at a later date.

Treasury Announces Increased Sizes of Nominal Long-End Liquidity Support Buybacks Beginning September 9 | U.S. Department of the Treasury

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