The Treasury Automated Auction Processing System (TAAPS) receives and processes tenders for Treasury-marketable securities. Marketable Treasury securities are issued through regularly scheduled auctions in what is called the primary market. The process involves the Federal Reserve Banks, which serve as conduits for the auctions. Because market activity is concentrated in New York, the Federal Reserve Bank of New York coordinates much of the auction activity.
It is possible for the Treasury Auction program to experience outages and interruptions to processing for a variety of reasons. These reasons include, but are not limited to:
In the event of a contingency impacting the Reserve Bank it is expected that Treasury Auction will continue without interruption. The Fed has established several back up and recovery mechanisms to insure that auction processing is not interrupted.
If dealers are unable to reach the trading desk at (212) 720-6860 or NY Treasury Auction staff at (212) 720-1805, they have been instructed to call the Treasury Auction help line at (866) 691-3770.
The Federal Reserve plays an integral role in carrying out the Bureau of the Public Debt's U.S. Savings Bond Program. The Federal Reserve Bank of Minneapolis serves as the Treasury Retail Securities (TRS) site that provides services for savings bond agents and the public.
Minneapolis: (800) 553-2663
It is possible for the Minneapolis TRS site to experience outages and interruptions to processing for a variety of reasons. These reasons include, but are not limited to:
Calls and new processing work will be redistributed and customers can expect business to resume with minimal delay. In the event of a network outage or application failure, processing of transactions may be suspended until such a time as the affected system is restored.
Continue to conduct business as usual. If the Minneapolis TRS site is deemed inoperable for a time, your transactions will be rerouted to a different location for processing.
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