[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR356.24]

[Page 378-379]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 356_SALE AND ISSUE OF MARKETABLE BOOK-ENTRY TREASURY BILLS, NOTES, 
AND BONDS (DEPARTMENT OF THE TREASURY CIRCULAR, PUBLIC DEBT SERIES NO. 
1-93)--Table of Contents
 
          Subpart C_Determination of Auction Awards; Settlement
 
Sec.  356.24  Will I be notified directly of my awards and, if I am 
submitting bids for others, do I have to provide confirmations?

    (a) Notice of awards--(1) Notice to submitters. We will provide 
notice to all

[[Page 379]]

submitters letting them know whether their bids were successful or not.
    (2) Notice to clearing corporations. If we are to deliver awarded 
securities under a delivery and payment agreement, we will provide 
notice of the awards to the clearing corporation that is a party to the 
agreement.
    (b) Notification of awards to customers. If you are a submitter for 
customers, you are responsible for notifying them of their awards. You 
are also responsible for notifying any intermediaries that forwarded 
successful bids to you. Similarly, an intermediary is responsible for 
providing notification of any awards to its customers and any 
intermediaries from whom it received bids.
    (c) Notification of awards and settlement amounts to a depository 
institution having an autocharge agreement with a submitter or a 
clearing corporation. We will notify each depository institution that 
has entered into an autocharge agreement with a submitter or a clearing 
corporation of the amount to be charged, on the issue date, to the 
institution's funds account at the Federal Reserve Bank servicing the 
institution. We will provide this notification no later than the day 
after the auction.
    (d) Customer confirmation. Any customer awarded a par amount of $500 
million or more in an auction must send us a confirmation containing the 
information in paragraphs (d)(1) and (2) of this section. The 
confirmation must be sent no later than 10:00 a.m. on the day following 
the auction. The confirmation must be signed by the customer or 
authorized representative. If signed by an authorized representative, 
the confirmation must include the capacity in which the representative 
is acting. A submitter or intermediary submitting or forwarding bids for 
a customer must notify the customer of this requirement if we award the 
customer $500 million or more as a result of those bids. The information 
the customer must provide in writing is:
    (1) A confirmation of the awarded bid(s), including the name of the 
submitter that submitted the bid(s) on the customer's behalf, and
    (2) A statement indicating whether the customer had a reportable net 
long position as defined in Sec.  356.13. If a position had to be 
reported, the statement must provide the amount of the position and the 
name of the submitter that the customer requested to report the 
position.