Learn More About The Auction Process
TreasuryDirect offers you the opportunity to purchase Bills, Notes, Bonds, and TIPS through your secure, online account. TreasuryDirect accepts only noncompetitive bids for these securities. A noncompetitive bid simply means you’re willing to accept the rate set at auction by the competitive bidding. It guarantees you’ll get the full amount of the security you want at the rate or yield determined at the auction. Rates on Treasury bills sold at auction could be negative. If you were to participate in a Treasury bill auction where this occurred, you’d owe an amount larger than you’d receive back when the bill matures.
To participate in a noncompetitive auction, go to BuyDirect® and enter your purchase information. You may choose the security you wish to purchase from the list of available securities.
Bids for purchases must be submitted prior to the auction day noncompetitive cut-off time. Just check that you have placed your bid for the appropriate auction by verifying your Purchase Review and/or Purchase Confirmation. Securities are generally issued to your account within one week of the auction date.
You may go to Announcements, Data and Results to see a Tentative Auction Schedule of U.S. Treasury Securities.