POWERED BY  10-Yr TIPS Announcement   Description of Offering Offering Amount $8.0 B  CUSIP Number 912828LA6  Auction Date July 6, 2009  Issue (Settlement) Date July 15, 2009  Maturity Date July 15, 2019  Min Bid Amount $100  Receipt of Tenders Noncompetitive Bids 12:00 Noon ET Competitive Bids 1:00 p.m. ET Definition The Treasury sells inflation-indexed securities, also known as TIPS, at regularly scheduled auctions. Competitive bids at these single-price auctions determine the interest rate paid on each issue, which remains fixed. A group of 17 securities dealers (as of June 18, 2009), known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold, resell, or trade the securities with other firms. The Treasury announces the amount, date and time of the 10-year TIPS auction four times a year: January, April, July and October. The 10-year TIPS are usually announced at the beginning of January and July. The April and October announcement calls for a reopening of the previously issued security. In each of the aforementioned months, 10-year TIPS are auctioned in the second week of the month. These TIPS are issued on the 15th of the month; if it falls on a weekend or holiday, then they are issued (settled) on the next business day.  Why Investors Care   Legal Notices | ©Copyright 2000-2010 Econoday, Inc.  powered by