[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR309.1]

[Page 160]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 309--ISSUE AND SALE OF TREASURY BILLS--Table of Contents
 
Sec. 309.1  Authority for issue and sale.

    The Secretary of the Treasury is authorized by the Second Liberty 
Bond Act, as amended, to issue Treasury bills of the United States on an 
interest-bearing basis, on a discount basis, or on a combination 
interest-bearing and discount basis, at such price or prices and with 
interest computed in such manner and payable at such time or times as he 
may prescribe; and to fix the form, terms, and conditions thereof, and 
to offer them for sale on a competitive or other basis, under such 
regulations and upon such terms and conditions as he may prescribe. 
Pursuant to said authorization, the Secretary of the Treasury may, from 
time to time, by public notice, offer Treasury bills for sale, and 
invite tenders therefor, through the Federal Reserve Banks and branches 
and through the Department of the Treasury, Bureau of the Public Debt. 
The Treasury bills so offered, and the tenders made, will be subject to 
the terms and conditions and to the general rules and regulations herein 
set forth, except as they may be modified in the public notices issued 
by the Secretary of the Treasury in connection with particular 
offerings.\1\
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    \1\ Accordingly, these regulations do not constitute a specific 
offering of Treasury bills.
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