The U.S. Treasury plans to transition to a new system for auctioning Treasury securities in the coming months, with final testing underway, while Deputy Secretary Brook said the department will continue refining and expanding its bond buyback program. The upgrade is intended to improve reliability, security and flexibility while supporting debt issuance. Treasury is also preparing for a stable transition to expanded central clearing and is monitoring rising demand from banks, money market mutual funds, stablecoin providers and the Federal Reserve. The roughly $32 trillion Treasury market has seen nearly $500 billion of repurchases through more than 150 operations, while Treasury bills absorbed more than $550 billion of additional net supply during July and August, with money market funds taking approximately 85% of the increase. PANews reported Brook's remarks on Sept. 22.