According to CoinMeta, two senior officials from the U.S. Treasury Department revealed that the department may utilize nearly $1 trillion from its general fiscal account (TGA) to fund its recently announced plan to expand government bond purchases. Using this account will give the Treasury Department greater power to influence long-term bond yields. Last week, the U.S. Treasury Department unexpectedly announced that it would increase the repurchase scale of long-term “non-index bonds” (off-the-run securities) from $2 billion to at least $4 billion. Treasury Secretary Yellen stated that such operations could even exceed this new minimum level. However, the Treasury Department did not clarify at the time how it would fund these purchase actions. Most market participants previously believed that the Treasury Department would raise funds by increasing the issuance of short-term Treasury bills. If the TGA account is utilized, the market's view on this plan could change. This account is essentially a “check account” opened by the U.S. government with the Federal Reserve, similar to a government emergency fund pool, and its funds already come from existing tax revenues.