---
source: Federal Reserve Bank of New York
url: https://www.newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details
document_type: html
date_retrieved: 2026-05-05
period: May 5, 2026 operation (monthly period April 14 - May 13, 2026)
parent_publication: Treasury Securities Operational Details / Daily Operations Results
indicators_covered: ["Outright Bill Purchase amount (1-4 months tenor)", "Operation schedule and settlement"]
---

# Treasury Securities Operations — Bill Purchase Results

**Operation Date:** Tuesday, May 05, 2026  
**Settlement Date:** Wednesday, May 06, 2026  
**Operation Type:** Outright Bill Purchase  
**Maturity Range:** Thursday, June 04, 2026 — Thursday, September 03, 2026 (1-to-4-month bills)  
**Release/Operation Window:** 09:00 AM — 09:20 AM ET

## Summary

The New York Fed's Open Market Trading Desk conducted an outright purchase of Treasury bills on May 5, 2026 as part of the monthly Reserve Management Purchases program covering the period April 14 — May 13, 2026.

**Accepted Amount:** **$7,585 million** ($7.585 billion) — matches the forecast value.

**Submitted Propositions:** $54,371 million (total par value offered by counterparties)

*Source: NY Fed official operation results (Excel data export).*

### Operation Details

| Field | Value |
|-------|-------|
| Operation Method | Multiple Price (competitive auction) |
| Release Time | 09:00 AM ET |
| Close Time | 09:20 AM ET |
| Maturity/Call Date Range | June 4, 2026 — September 3, 2026 |
| CUSIPs Covered | Multiple bill issues maturing within the 1–4 month window |
| Highest Accepted Amount per CUSIP | Individual allocations listed below |

### Individual Security Allocations (Accepted Par Values)

| CUSIP | Security Description | Accepted ($) |
|-------|----------------------|--------------|
| 912797TP2 | B 07/23/26 | 60,000,000 |
| 912797UW5 | B 09/01/26 | 7,525,000,000 |
| All other CUSIPs in range | Various bill maturities | 0 |

The vast majority of accepted amount ($7.525B) was allocated to the 09/01/26 bill (CUSIP 912797UW5), with a smaller $60M allocation to the 07/23/26 bill (CUSIP 912797TP2). All other maturities within the 1–4 month window received zero allocation in this operation.

### Context

This operation is part of the Federal Reserve's balance sheet normalization and reserve management purchases as directed by the FOMC. For the monthly period April 14 — May 13, 2026, the Desk planned approximately $25 billion in reserve management purchases plus approximately $15.5 billion in reinvestment purchases.

The bill purchase operations are conducted in the secondary market and are open to primary dealers and other approved counterparties.