[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR356.24]

[Page 384]
 
                  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 
 
          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 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 $750 
million or more in an auction must send us a confirmation in written 
form or via e-mail containing the information in paragraphs (d)(1) and 
(2) of this section. The confirmation must be sent no later than 10 a.m. 
on the day following the auction. If sent in written form, the 
confirmation must be signed by the customer or authorized 
representative. Confirmations sent by e-mail must be sent by the 
customer or authorized representative. Confirmations signed or sent by 
an authorized representative 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 
reporting requirement if we award the customer $750 million or more as a 
result of those bids. The information the customer must provide 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.

[69 FR 45202, July 28, 2004, as amended at 71 FR 76151, Dec. 20, 2006]