Treasury error shorted Fed $90 mln in debt auction

WASHINGTON, June 25 (BestGrowthStock) – The U.S. Treasury on Friday
said it is awarding the Federal Reserve an additional $90
million in Treasury coupon debt auctioned this week to correct
a clerical error.

The Treasury said in a statement that had understated the
amounts of 2-year, 5-year and 7-year notes awarded to the Fed
as $3.126 billion. The correct amount should have been $3.216
billion, which is equal to the amount of Fed-held Treasury
coupon securities that are maturing on June 30.

The newly auctioned notes are due to settle on June 30. The
added Fed award did not affect securites purchased by other
investors.

Investing Tools
(Reporting by David Lawder)

Treasury error shorted Fed $90 mln in debt auction