Bidding is in terms of yield. Competitive and noncompetitive bids are awarded at the highest yield of bids accepted in the auction. The single-price auction technique became effective for all sales of Treasury marketable securities, beginning on November 2, 1998.
Interest is paid semiannually.
At least one year but not more than ten years. We may issue an additional amount of a note in a reopening. We usually announce an offering approximately one week before the auction.