NEW YORK: The US Treasury Department on Wednesday asked for holders with large stakes in the most recently issued 10-year government note as of May 16 to provide information on their positions in a test of a rule change on reporting big positions in Treasuries.
The rule amendment, which was published in December 2014 and went into effect in March 2015, was intended for the Treasury to understand the supply and demand dynamics behind particular US government debt issues.
The Treasury had not asked for reporting on large positions on a Treasury issue since the rule change.
The department sold $28 billion of 10-year notes on May 11 as part of its quarterly refunding.
The issue carries a coupon rate of 1-5/8 percent and matures in May 2026.
The issue settled on May 15.
The Treasury said in a statement that holders who have $2.3 billion or more of the 10-year issue will have to fill out a large-position report.
The department said this request was a test but did not provide details.
"Such information allows Treasury to monitor the impact of concentrations of positions in the Treasury securities market," the Treasury said on its website.
The Treasury previously requested large-position reports on March 15, 2013.