Bureau of the Public Debt
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The Bureau of the Public Debt is an agency of the United States Department of the Treasury. The Bureau's headquarters are located in Washington, DC, but most employees are located in Parkersburg, West Virginia. This Treasury Bureau borrows money needed to operate the Federal Government, accounts for the resulting debt, and provides reimbursable services to other Federal agencies. Borrowing is done by selling US Treasury bills, notes, bonds and TIPS, as well as US Treasury savings bonds. The bureau pays interest to investors and redeems investors' securities. Borrowings total about $5 trillion each year through 220 or so marketable securities auctions and savings bond sales at over 40,000 locations throughout the U.S. The Bureau of the Public Debt sells securities directly to and maintains accounts for investors in its TreasuryDirect system.
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