1.2: Borrowing Capabilities

Protect and strengthen Treasury's borrowing capabilities.

Other Information:

PROTECT AND STRENGTHEN TREASURY'S BORROWING CAPABILITIES. Large-scale disruptions, whether from terrorism, cyberattacks, natural disasters, pandemic illnesses, or other sources, can seriously damage federal government operations and services and create an immediate need for emergency borrowing. Comprehensive contingency plans and strong security controls are essential to ensuring the continual availability of our critical operations supporting Treasury's borrowings and the Treasury securities market. The contingency and security features of our new auction system and infrastructure are extremely robust. While enhancing this system and infrastructure remains a critical part of our contingency and security plans, it is not our only focus. We'll continue to ensure that our back-up auction processing sites are fully functional and that our staff receives training and practice for contingency scenarios. Our focus will also be external. Obtaining written commitments from our major auction participants to engage in a number of business continuity activities with us is a priority. We'll develop extensive and well-rehearsed alternate communication plans to cover a wide range of disruptive circumstances. These activities are designed to ensure that our largest market participants maintain effective contingency plans and can demonstrate their readiness to participate in Treasury auctions in times of crisis. Through a close partnership with the Federal Reserve, we will ensure that the National Book-Entry System remains a secure holding and transfer system for Treasury securities and that interest and principal payments are made with 100 percent accuracy and timeliness. Jointly, we will review and test contingency plans and evaluate alternatives for issuance and settlement. Our objective is to guarantee rapid recovery and timely resumption of our critical securities operations following unanticipated disruptions. To achieve this, we must continually focus on protecting the confidentiality and integrity of our data through constant diligence and upgrades of our security controls.

Stakeholder(s):

• Wholesale Securities Services Program

Indicator(s):

Indicator:1

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