On October 14, the Congressional Revenue Service released a report entitled “Auction Basics: Background for Assessing Proposed Treasury Purchases of Mortgage-Backed Securities.” The report discusses themechanisms proposed to be used by the Treasury Department in purchasing troubled assets under the Emergency Economic Stabilization Act of 2008. It covers the use of reverse Dutch auctions by the federal government and the potential design of the Treasury auction program.

http://assets.opencrs.com/rpts/RL34707_20081014.pdf