FAQs about Unscheduled Reopenings — TreasuryDirect Skip Navigation An official website of the United States government Here’s how you know U.S. Department of the Treasury Official websites use .gov A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS A lock () or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites. Menu Log In Savings Bonds About U.S. Savings Bonds Buy a Bond Gift a Savings Bond Cash In a Bond Savings Bond Value Calculator Manage Bonds Forms for Savings Bonds Treasury Hunt Treasury Marketable Securities About Treasury Marketable Securities Treasury Bills Treasury Bonds Treasury Notes TIPS Floating Rate Notes (FRNs) STRIPS Forms for Treasury Marketable Securities Treasury Hunt Auctions About Auctions How Auctions Work (Participating) When Auctions Happen (Schedules) Reopenings Announcements, Data & Results Buyback Announcements and Results Upcoming Auctions Recent Auction Results Auction Search (Query) Auction Press Releases Auction Regulations (UOC) Laws and Regulations About Laws and Regulations Auction Regulations (UOC) Collateral Programs Commercial Book-Entry Regulations (TRADES) Frauds, Phonies, & Scams Government Securities Act (GSA) Regulations Large Position Reporting (LPR) Redemption (Buyback) Operations Regulations Treasury Marketable Securities Regulations Savings Bond Regulations TreasuryDirect Regulations Research Center Government Users For Government Users Federal Investments Program SLGS & SLGSafe Security Liquidation & Proceeds Federal Borrowings Program Treasury Managed Accounts Funds Management Program Reports History of the Debt Public Debt Reports Interest Rates and Prices Mailing Lists News About Forms Help Center Contact Us Help Center FAQs about Unscheduled Reopenings FAQs about Unscheduled Reopenings What is a reopening? In a reopening, Treasury auctions an additional amount of an outstanding security. Treasury’s tentative auction schedule includes regularly scheduled reopenings. What is an unscheduled reopening? An unscheduled reopening is a reopening that results when Treasury conducts an auction of a new, non-indexed note or bond, and the coupon rate determined in the auction is the same as the coupon rate of an outstanding non-indexed note or bond with the same maturity date. Treasury Inflation Protected Securities (TIPS) are only reopened as scheduled. Can a note auction result in the unscheduled reopening of a bond? Yes, a note auction can result in the unscheduled reopening of a bond. How do Treasury auction results reflect an unscheduled reopening? When a note auction results in the unscheduled reopening of a note (or a bond auction results in the unscheduled reopening of a bond), the Treasury auction results would identify the security term based on the security term in the auction announcement. The security issued would have the CUSIP, corpus CUSIP, and series of the reopened security. For example, see the announcement and results of a 5-year note auction that resulted in the unscheduled reopening of a 7-year note in February 2025. When a note auction results in the unscheduled reopening of a bond, Treasury auction results would identify the security term and type based on the term and type in the auction announcement. For example, if a 10-year note auction resulted in an unscheduled reopening of a 30-year bond, the “Term and Type of Security” field in the auction results would remain “10-year note” as indicated in the auction announcement. However, the security issued would have the CUSIP, corpus CUSIP, and series of the 30-year bond. When a note auction results in the unscheduled reopening of a bond, how would the additional amount of the security be reported on the Daily Treasury Statement (DTS) and the Monthly Statement of the Public Debt (MSPD)? The additional amount of the security would be reported on the DTS and MSPD based on the reopened bond’s CUSIP, corpus CUSIP, and series.  For example, if a 10-year note auction resulted in an unscheduled reopening of a 30-year bond, the additional amount issued would be reported as a bond on the DTS and MSPD. We're Here to Help Contact Us Connect With Us X (formerly Twitter) Facebook YouTube RSS Feeds Legal Information Freedom of Information Act Privacy Terms & Conditions Data Quality For Web Developers Accessibility Related Sites treasury.gov fiscaldata.treasury.gov USAspending.gov Bureau of the Fiscal Service USA.gov Data.gov Regulations.gov