U.S. Treasury · Bitcoin · Federal Reserve (FED) · New York · CryptoSlate
A $202 billion US Treasury settlement hits September 30, and it could trigger a surprise move in Bitcoin
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A $202 billion U.S. Treasury coupon settlement on Sept. 30 will test overnight financing at quarter-end.
Key facts
- The New York Fed's current schedule calls for roughly $15.6 billion of reinvestment purchases over Sept. 15 to Oct. 14 but no reserve-management purchases
- Treasury also estimates $143.58 billion of publicly held coupon debt will mature that day, leaving $58.42 billion of net new face value — It had been 3.85% on Sept. 18 and 21 and remained below the 3.90% rate the Fed pays on bank reserves, according to FHLBNY
- A $202 billion U.S. Treasury coupon settlement on Sept. 30 will test overnight financing at quarter-end
Summary
01 Treasury’s Sept. 30 coupon settlement totals $202 billion in public face amounts, with $143.58 billion in maturities. 02 The $58.42 billion in net new face value is not a measured cash drain, and financing remains calm for now. 03 SOFR and Bitcoin funding after settlement will show whether any pressure persists or spreads. A $202 billion U.S. The Treasury calendar puts a reopened 10-year inflation-protected bond and two-, five- and seven-year notes on Wednesday's settlement date.