meta_id 3416997

On August 19, 2026, the U.S. Department of the Treasury announced it is doubling the maximum size of liquidity support buyback operations for longer-dated nominal coupon securities. The current maximum size of $2 billion per operation will increase to at least $4 billion per operation, effective September 9, 2026. The increase applies to buyback operations in two sectors: the 10-year to 20-year sector and the 20-year to 30-year sector. This change will remain in effect through November 4, 2026, covering the remainder of the current refunding quarter. The Treasury said the increase reflects its desire to provide greater liquidity support in longer-dated nominal sectors where there is consistent strong sponsorship from market participants. The Treasury noted it routinely receives significant volumes of high-quality offers in longer-dated buyback operations, supporting the rationale for the expanded operation sizes. 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. This announcement affects primary dealers and other market participants engaged in Treasury securities trading and liquidity provision in the longer-dated nominal coupon sectors. REFERENCES: U.S. Department of the Treasury. "Treasury Announces Increased Sizes of Nominal Long-End Liquidity Support Buybacks Beginning September 9." Press Release, August 19, 2026. https://home.treasury.gov/news/press-releases/jy1459