Personal Investments • Vanguard: "Unavailable shares" warning? [7-day hold on new deposits via EBT or check]

So, that means that you can’t “rollover” maturing Treasury bills at Vanguard?

That is my experience yesterday, I could not rollover my $11K t-bill. I am hoping this is a temporary bug. If not, it will be very annoying.

That’s really annoying. I was planning on switching my VUSXX holdings to three issues of Treasury bills, rolling over 1/3 at auction each month.

I will report out the resolution. I am calling the Bond desk today to get an answer on why this is happening.

So I called the Fixed Income Desk today and found out why I could not make the trade I described above. It is unrelated to the 7 day hold issue that is the subject of this thread (even though it was noted in the decline statement as one possible reason).

Instead, the Treasury Auction online order page has a 50% of assets limitation for purchases that exceed the amount in the settlement account, it is not smart enough to know that the asset is scheduled for redemption on the date of the auction settlement...

So, for example, if you have $10K in an existing T-Bill and $10K in the Settlement Fund, the largest T-bill I can request is $15k ($5K against maturing T-bill, and $10K settlement funds). This is a limitation of the online ordering system that the bond desk can override (they placed the auction request for me today)

The issue arose for me this time because I am converting 100% of a small account into one T-bill, thus hitting the 50% asset limit online. My other orders were almost always < 10% of assets or less in the past.

So, this issue is unrelated to the main topic of the thread. The bond desk was helpful, Dan (the rep) gave me clear guidance, and was able to place the auction request of me.

Bottom line, it is not possible to take 100% assets of a specific brokerage account and place into one T-Bill online. I guess I'll go back to rotating two of them so I can DIY I was trying to simplify, and see where that got me!

Statistics: Posted by anagram — Thu Apr 11, 2024 3:07 pm — Replies 43 — Views 2397