Presidential Bank Offers Treasury Auctions

12/1/2009
Presidential is a direct participant with the Treasury Automated Auction Processing System (TAAPS) which allows participating customers to partake in initial offerings of U.S. Treasury bills, notes, bonds, and Treasury Inflation-Protected Securities (TIPS). Presidential charges no transaction commissions, mark-ups or fees for this service. Additionally, there is no need to open a U.S. Treasury account. Presidential takes care of all details necessary for customers to participate.

Treasury auctions are the initial offering of U.S. Treasury bills, notes, bonds, and Treasury Inflation-Protected Securities (TIPS) to institutional and individual investors directly from the U.S. Treasury. Treasury auctions occur regularly and have a set schedule. There are three steps to an auction: announcement of the auction, bidding, and issuance of the purchased securities. Participating customers’ checking or savings accounts are debited on the settlement dates.

Presidential Bank customers wishing to participate in U.S. Treasury auctions should contact Susan Henry, Trust Department Manager, at 301-652-1616 ext.2276, or you may email her at susan@presidential.com.