CFR > Title 31 - Money and Finance: Treasury > SUBTITLE B—Regulations Relating to Money and Finance > CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY (parts 200 to 391) > SUBCHAPTER B—BUREAU OF THE PUBLIC DEBT (parts 306 to 391) > PART 356—SALE AND ISSUE OF MARKETABLE BOOK-ENTRY TREASURY BILLS, NOTES, AND BONDS (DEPARTMENT OF THE TREASURY CIRCULAR, PUBLIC DEBT SERIES NO. 1-93) > SUBPART D—Miscellaneous Provisions (§356.30 to §356.35) > 356.33—Does the Treasury have any discretion in the auction process?

356.33—Does the Treasury have any discretion in the auction process?

(a) We have the discretion to:
(1) Accept, reject, or refuse to recognize any bids submitted in an auction;
(2) Award more or less than the amount of securities specified in the auction announcement;
(3) Waive any provision of this part for any bidder or submitter; and
(4) Change the terms and conditions of an auction.
(b) Our decisions under this part are final. We will provide a public notice if we change any auction provision, term, or condition.
(c) We reserve the right to modify the terms and conditions of new securities and to depart from the customary pattern of securities offerings at any time.