Debt Management - Floating Rate Notes Can Help Treasury Meet Borrowing Goals, But Additional Actions Are Needed to Help Manage Risk - Prijzen

''To continue meeting its goal of financing the federal government’s borrowing needs at the lowest cost over time, Treasury began issuing a new type of security—a 2-year floating rate note (FRN)—in January 2014. The FRN pays interest at a rate that resets periodically based on changes in the rate of the 13-week Treasury bill (to which the FRN is indexed). GAO was asked to review Treasury debt management, including this product and other debt mana...

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