31 CFR § 375.13 - What requirements apply to offers?

---
identifier: "/us/cfr/t31/s375.13"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 375.13 - What requirements apply to offers?"
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "375.13"
section_name: "What requirements apply to offers?"
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "375"
part_name: "MARKETABLE TREASURY SECURITIES REDEMPTION OPERATIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 31 U.S.C. 321; 31 U.S.C. 3111; 12 U.S.C. 391."
regulatory_source: "65 FR 3116, Jan. 19, 2000, as amended at 91 FR 15541, Mar. 30, 2026, unless otherwise noted."
cfr_part: "375"
---


# 375.13 What requirements apply to offers?

(a) *General.* You may only submit competitive offers (specifying a price). All offers must state the security description, par amount, and price of each security offered. All offers must equal or exceed the minimum offer amount, and be in the multiple stated in the redemption operation announcement.

(b) *Price format.* You must express offered prices in terms of price per $100 of par amount.

(c) *Maximum number of offers.* We may specify a maximum number of offers per security in the redemption operation announcement. There is no limit on the number of eligible securities you may offer.