Treasury Secretary Steven Mnuchin said the Trump administration is considering issuing “ultra-long” bonds beyond the traditional 30-year benchmarks, according to Bloomberg News.

“If the conditions are right, then I would anticipate we’ll take advantage of long-term borrowing and execute on that,” Mnuchin said in a Wednesday interview with Bloomberg, adding that he had held meetings on the possibility earlier in the day.{mosads}

According to the report, Treasury first started considering bonds that would last for 50 or even 100 years as early as 2009, but the idea gained steam only recently.

Longer-term bonds could have a major impact on international bond markets, which often rely on U.S. Treasury bills as a baseline.

It would allow Treasury to borrow money for the long term at a time of low interest rates, an appealing prospect at a time when deficits are soaring. The deficit is on track to near $1 trillion this year, meaning the government will have to borrow to fill the budget hole. 

Countries such as Austria, Belgium and Ireland have already issued ultra-long bonds, and Swedish authorities said this week they were considering it as well.