Treasury takes first steps under bailout

The U.S. Treasury said Monday it has taken its first steps under the $700 billion federal bailout bill signed into law Friday.

The Treasury said it was initiating the process of soliciting private help, including help from asset managers, "needed to conduct transactions on Treasury's behalf," a statement said.

The Treasury posted its section process on its Web site and said it would adjust its auction calendar and continue to increase auction sizes of bills and coupon securities.

In addition, the Treasury was considering a move in November to reintroduce the three-year note, the statement said.