[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: 31CFR340.8]

[Page 238]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 340--REGULATIONS GOVERNING THE SALE OF TREASURY BONDS THROUGH COMPETITIVE BIDDING--Table of Contents
 
Sec. 340.8  Acceptance of bids.

    (a) Opening of bids. Bids will be opened at the time and place 
specified in the public notice.
    (b) Method of determining accepted bids. The lowest basis cost of 
money\2\  computed from the date of the bonds to the date of maturity 
will be used in determining successful bids.
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    \2\ In cases where bidders are required to specify the coupon rate, 
the lowest basis cost of money will be determined by reference to a 
specially prepared table of bond yields, a copy of which will be made 
available to all prospective bidders upon written request to the Federal 
Reserve Bank of New York, or the Bureau of the Public Debt, Treasury 
Department, Washington, DC 20220. Straightline interpolation will be 
applied if necessary.
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    (c) Acceptance of successful bid. The Secretary of the Treasury, or 
his representative, will notify any successful bidder of acceptance in 
the manner and form specified in the public notice.