THE FOLLOW UP
STATEMENT

TBAC recommends keeping coupon, FRN, and TIPS auction sizes unchanged

True

Evidence from credible sources supports the statement as accurate. Learn more in Methodology.

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The Treasury Borrowing Advisory Committee’s report contains a recommendation to keep nominal coupon, FRN, and TIPS auction sizes unchanged.

Source summary
The Treasury Borrowing Advisory Committee (TBAC) reported to the Secretary that U.S. Treasury yields were largely unchanged with stable domestic fixed-income markets, though global volatility (notably a rise in Japan government bond yields) and commodity/currency swings were observed. The Committee supported Treasury exploring issuance of a SOFR Floating Rate Note (FRN), and recommended keeping nominal coupon, FRN, and TIPS auction sizes unchanged for now while noting that FY2027 could warrant larger coupon issuance. TBAC highlighted market impacts from Federal Reserve actions (including Reserve Management Purchases) and data distortions from the October–November 2025 government shutdown that may affect upcoming inflation readings.
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Latest fact check

Primary-source documents from the U.S. Department of the Treasury confirm the TBAC recommended maintaining current auction sizes. The TBAC Report to the Secretary (Feb 4, 2026) states: "In terms of issuance, the Committee recommended keeping nominal coupon, FRN, and TIPS auctions sizes unchanged." The official TBAC meeting minutes (Feb 3, 2026) record the Committee "unanimously recommended that Treasury maintain nominal coupon, FRN, and TIPS auction sizes at current levels." Verdict: True — the statement is directly corroborated by the Treasury press release and the official meeting minutes.

Sources

Timeline

  1. Update · Feb 04, 2026, 09:40 PMTrue
    Primary-source documents from the U.S. Department of the Treasury confirm the TBAC recommended maintaining current auction sizes. The TBAC Report to the Secretary (Feb 4, 2026) states: "In terms of issuance, the Committee recommended keeping nominal coupon, FRN, and TIPS auctions sizes unchanged." The official TBAC meeting minutes (Feb 3, 2026) record the Committee "unanimously recommended that Treasury maintain nominal coupon, FRN, and TIPS auction sizes at current levels." Verdict: True — the statement is directly corroborated by the Treasury press release and the official meeting minutes.
  2. Update · Feb 04, 2026, 08:31 PMTrue
    Treasury TBAC, in its February 2026 briefing, stated: “the Committee recommended keeping nominal coupon, FRN, and TIPS auctions sizes unchanged.” This language appears in the February 4, 2026 Treasury press release and is corroborated by the accompanying Minutes of the TBAC meeting (February 3, 2026). The claim matches the official wording from these primary sources.
  3. Original article · Feb 04, 2026
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