The U.S. Treasury Department is considering using its Treasury General Account (TGA), which holds nearly $950 billion, to support its expanded long-dated off-the-run Treasury buyback program, according to CNBC, citing two senior Treasury officials. This move could significantly alter market perceptions of the Treasury's ability to intervene in long-term interest rates. Treasury Secretary Scott Bessent has accumulated the TGA balance to approximately $950 billion, significantly higher than the Biden administration's target level of $550 billion to $600 billion. Last week, the Treasury announced it would double the size of its long-dated off-the-run Treasury buybacks from $2 billion to at least $4 billion per operation, with Scott Bessent stating that the actual operational size could exceed this new lower limit. The potential involvement of the TGA could reverse the market's pessimistic assessment of this operation and potentially exert downward pressure on long-term yields.