The U.S. Treasury Department is reviewing its roughly $950 billion to $1 trillion Treasury General Account balance as a potential funding source for an expanded long-term Treasury buyback program, according to senior officials. The department last week said it would double the minimum size of long-term off-the-run buybacks from $2 billion to $4 billion per operation, and Treasury Secretary Scott Bessent indicated actual amounts could run higher. Bessent has framed the approach as a “Treasury Twist,” pairing purchases of longer-dated debt with short-term bill financing. Using TGA cash could amplify the program’s impact on long-term yields while reducing reliance on Federal Reserve support. Officials have not set a deployment size or announcement timeline. The TGA remains well above the $550 billion to $600 billion range targeted in the prior administration, and debt-ceiling pressure is not expected before next winter at the earliest, giving room to rebuild cash if balances are drawn down. Markets are watching effects on Treasury supply-demand and the gap between long- and short-term yields, with liquidity-sensitive assets including cryptocurrencies also in focus if reserves return to the banking system.