The U.S. Department of Treasury has announced it will begin regular weekly offerings of four-week bills. It is expected that the four-week bills will help smooth seasonal fluctuations in the Treasury's cash balances.

The first four-week bills will be officially announced on Monday, July 30, and offered for auction on Tuesday, July 31, at 1:00 p.m., and settlement will occur on Thursday, August 2. Subsequent offerings will be announced each Monday with auctions on Tuesdays and settlement on Thursdays.

The new Treasury bills will not be available for purchase through the Treasury Department's online purchasing service, TreasuryDirect. You can purchase Treasury bills through a Federal Reserve Bank, other financial institutions, or through a broker. If you are new to the process of purchasing Treasury bills and would like more information, read The Basics of Treasury Securities at the Treasury Department's Web site.