[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: 31CFR356.33]

[Page 382]
 
                  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 D_Miscellaneous Provisions
 
Sec.  356.33  Does the Treasury have any discretion in the auction 
process?

    (a) We have the discretion to:
    (1) Accept, reject, or refuse to recognize any bids submitted in an 
auction;
    (2) Award more or less than the amount of securities specified in 
the auction announcement;
    (3) Waive any provision of this part for any bidder or submitter; 
and
    (4) Change the terms and conditions of an auction.
    (b) Our decisions under this part are final. We will provide a 
public notice if we change any auction provision, term, or condition.
    (c) We reserve the right to modify the terms and conditions of new 
securities and to depart from the customary pattern of securities 
offerings at any time.